Did you notice that tons of Asian people flooding into the western shopping places?
How do you feel the great raising buying power from those Asian people?
Have you ever thought the behind reasons of why this situation was happened?
The answer is Chinese new year is coming…….It boosts the biggest sale around the world by Asian people.
---What is Chinese New Year?
Chinese New year(春节) is also known as Spring Festival in the mainland China, which represents the turning of the traditional lunisolar Chinese calendar.
It could be regarded as the most important festival in Chinese history. And the whole celebrating cycle is from the first day of Chinese Lunar year till the 15th day.
For this year 2017, It is Jan 28th!
One of the most important tradition in celebrating Chinese New Year is wearing new clothes with red color. This could be regarded as one of reasons why sales are boosted around the globe.
---What did those western shopping places do?
As you could notice, lots of retailers and department stores planned the special and fascinating Chinese New Year celebration.
They try to give Asian people more emotional attachment when they walk into the mall. Unnoticeably, they will open their wallet continuously.
---What made those Chinese people getting higher buying power?
Since China has been rise to the world’s second-largest economy today, people are curious about why China’s economic goes up so quickly.
The IMF research team has reached the conclusion that “During 1979-94 productivity gains accounted for more than 42 percent of China's growth and by the early 1990s had overtaken capital as the most significant source of that growth……. This jump in productivity originated in the economic reforms begun in 1978.”
“Prior to the 1978 reforms, nearly four in five Chinese worked in agriculture; by 1994, only one in two did,” The IMF research team indicated.
More and more advanced agricultural products lead to more efficient in the use of labor. Those excess labor forces has been moved to the higher manufacturing industry.
Along with the First Opium War (1839-1842), China ended its long-term the Seclusion Policy.
By the help of following decades of years, China is more open to the international market, and would like to learn more from the foreigner countries.
As more and more countries would like to offer free VISA program with China, Chinese also get more ways into other countries.