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Foreign firms grasp festive opportunities
(China Daily)
Updated: 2006-02-06 06:19
CHENGDU: As Chinese people celebrate their most important traditional
festival, more foreign-funded companies across the country are taking full
advantage of the opportunity to appeal to the nation's huge consumption power.
Dragon dances, a traditional Chinese Spring Festival performance, attracted
many people to the front of a Japanese-invested department store in Chengdu,
capital of Southwest China's Sichuan Province.
Decorated in conformity with traditional Chinese custom, the Chengdu outlet
of Ito-Yokado Ltd handed out the propitious food of "niangao" and dog-shaped
decorations to customers for the arrival of the Lunar New Year, which this year
ushered in the Year of the Dog.
"We began to work out sales strategy and promotional activities for the
consumption peak four months ago," said Nobutaka Shiroki, general manager of the
Japanese chain store.
"Our efforts have paid off, as turnover in past week is almost five times
that of usual," said Shiroki, who has experienced nine Spring Festival shopping
rushes in China.
For Shiroki, Spring Festival is always the busiest period of the year.
However, this year he was able to get valuable commercial information for the
next year's sales in advance.
Chinese Spring Festival is "vigorous, traditional and busy," said Shiroki,
who is learning Chinese culture and customs both from books and his employees,
to better get involved in the Chinese economy.
Elsewhere, the peak flow of Chinese people either on the move for family
reunions or travelling, has produced great business opportunities, said Peter
Ho, manager of a Carrefour store in Chongqing Municipality.
"We should seize the opportunity to create profits," said Ho, who did not
have a day off in the past week.
The Chengdu-based Kempinski Hotel failed to win customers in previous Spring
Festivals without promotional measures, according to Liu Yanli, manager of
public relations.
"This year, we offered festival banquets, decorated the hotel in the
traditionally Chinese way, and offered gifts to customers. All these have been
quite effective," said Liu.
More than 500,000 foreign-funded companies are operating across China, and
US$60.3 billion in direct foreign investment was channelled in last year,
official statistics show.
Fierce competition has pushed foreign investors to live in harmony with the
Chinese culture and economy, and grasp every chance to increase business share
in the huge market, experts say.
"Adjusting ourselves to the Spring Festival economy will enhance not only
sales, but also the image of foreign companies among Chinese customers," said
Hillary Zhou, public relations department supervisor with Sichuan-based
McDonald's Restaurants Food Co Ltd.
(China Daily 02/06/2006 page2)
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