Here’s Your Guide for the Best Business Practices in the Chinese New Year
Chinese New Year timeframe
The decorations go out in full force a week before Chinese New Year. During this time, there is a rush for Chinese staff to get time off, just like during Christmas season in Western countries.
The holiday lasts for seven days. However, Chinese New Year traditionally lasts up to Lantern Festival to after the Spring Festival, a two-week period that gets stilted as well.
Chinese staff during the New Year
Chinese staff usually expect some form of recognition during this time of the year, especially if business has been good. One of the most common forms of appreciation is the giving of red envelopes, or hong bao, containing cash.
The system of payment can be discreet, such as on a performance basis. Some also give out 13th month compensation while others opt for a uniform amount of money no matter the position. The key here is the act of appreciating, which is a strong point for loyalty among the Chinese.
Chinese businesses usually have a staff party as well, just like our Western gatherings at Christmas, where bosses and employees mingle and enjoy themselves.
Greeting partners or customers during the season
If you have Chinese business partners, it would be a great idea to send your salutations for the New Year.
For your Chinese customers, promos or free gifts along with their online purchases will go along great. Relevant and timely campaigns are always a good idea to take advantage of, especially for a unique and traditional holiday such as this.
For online business, launch your campaign ahead of time to get the word out on your promos and the valid timeframe, as many Chinese people tend to get their shopping done ahead to celebrate the holidays.
Affected channels for suppliers and orders
If you source certain products or services in China or a similar region with widespread Chinese influence, expect disruptions with regard to supply and orders. Many shut down on production up to a couple of weeks before the holiday.
It would be a good idea to plan ahead for your supply channels and how to navigate through your orders. This is especially important if you plan to stock ahead of time before the rush of the holiday season.
Using these pointers, you will find it easier to structure your business approach during this unique and traditional season and get more opportunities for Rooster Year.
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