Chinese residents are in the midst of their Golden Week Spring Festival. Marking the start of the Chinese New Year, citizens all over the country are celebrating, as many of the country’s businesses shut down for a week-long break.
With all this free time, can retailers and shopping centres in China expect to see an influx of consumers visiting stores this week? Not necessarily.
Naturally, this yearly event receives its fair share of headlines. A vacation from work often results in a great deal of movement in China, with many workers heading back to their home towns to visit family and friends.
Looking back at footfall analytics from previous years, we‘ve identified an emerging pattern during the Spring Festival – and it’s one that’s unlikely to be cause for celebration for retail businesses.
The build-up to Golden Week in 2014 and 2015 saw Chinese footfall rise to higher than average levels. However, come Spring Festival Eve, ….