With so many celebrations underway, a little forward thinking can go a long way for Western Businesses during the Chinese New Year.
Chinese New Year or as it is often known as the Spring Festival, is the most important and widely celebrated public holiday in the Chinese Lunar Calendar.
Festivities span across Asia with many countries also celebrating New Year at the same time. The Chinese New Year is a time to spend with family, enjoying traditions which are believed to bring good luck to all and banishing the bad spirits for the start of the New Year.
By tradition it is believed that the colour red will banish the bad spirits from the home, so families often adorn their homes with red decorations during the period. Many parades, fireworks and shows take place during the Chinese New Year with New Years Eve being a particular spectacular event.
But with so much festivities and celebration, business can often be overlooked during this time.
For western companies who trade heavily with Asian companies, the disruption can often have negative consequences for their own business.
5 things your company should know about Chinese New Year
- Chinese New Year is the most important festival in the Chinese calendar and should therefore be valued if doing business with Asian companies. Showing respect and knowledge for the festivities can often generate positive relationships with foreign business associates.
- Planning in advance is the key to securing a fluid operations throughout the Chinese New Year period. Any imports need to be scheduled well in advance of the festivities in order to avoid delayed deliveries.
- Companies within the big cities often employ workers from all over the country, who migrate back to their hometowns for the festive period. Unfortunately many do not return when the celebrations are over. For this reason companies can often be disrupted afterwards as well. With this in mind, ordering in bulk prior to the New Year can often be preferable to avoid the post-celebration lull.
- Generally China and many of its Asian neighbours enjoy a bank holiday for the New Years Eve and the two days which follow. Contact with business associates during this time will be disrupted, getting in touch in advance is advisable.
- As with all major celebrations, Chinese New Year is a time for seeing Family and Friends and enjoying yourself. For this reason a lot of the country is on the move in the weeks prior to and during the festivities. If you are thinking about advertising in China during this time, modes of transport and outdoor advertising can have a significant impact on consumers who are constantly on the move.