Chinese shoppers go big on Black Friday

Article Source: CCTV
Original Post Date: November 28, 2016

 

American businesses made a huge effort to attract Chinese shoppers during this year’s Black Friday shopping frenzy. That came as the group has become a major buying force during the U.S. Christmas season.

Chinese shoppers are now a major contributor to America’s Black Friday shopping spree. Chinese shoppers reportedly spent $55 million during last year’s Christmas shopping season. The shoppers also favor high-end products such as skin- and health-care products, designer bags and clothes, and organic food.

Many local businesses have put advertisements in Chinese newspapers to promote their sales.

CMO of Cdealmoon, Ying Wang, said, “We’ve just finished our double 11 sales promotion where 200 American brands, including department stores, have given discounts on our website to Chinese consumers. They are continuing to give out discounts for Black Friday, but their double 11 deals are better. This means these international brands have realised the consumption power of Chinese consumers and want to attract more of them.”

Wang says young people make up the majority of shoppers on his platform. Seventy percent of his clients are based in the U.S, especially in California, New York, and Texas. The rest are from China. Chinese consumers say they still find shopping in the US a lot cheaper than in China, even with the depreciation of the yuan.

Marketing consulting firm Nielsen estimates that Asian consumers purchased $770 billion worth of goods in 2015. Analysts expect that number to exceed $1 trillion by 2018.