The Qixi Festival, often referred to as Chinese Valentine’s Day, is a significant event in China's gift economy. According to recent surveys, nearly 70% of consumers plan to purchase gifts for their partners during Qixi. Jewellery, digital products, and beauty/skincare items are the top choices, with nearly half of the consumers spending between 300-1000 RMB. With the increasing penetration of e-commerce, most consumers prefer online platforms for their shopping.
External Insights
Qixi as a Key Gift-Giving Occasion
Data from iiMedia Research shows that the timing of user gift purchases in China's gift economy reveals that the most common occasions for buying gifts for partners are wedding anniversaries, Valentine's Day and Qixi Festival, and other typical gift-giving dates. 73.2% of gift economy users in China prefer to buy gifts on comprehensive e-commerce platforms, followed by 61.9% who shop in stores, and 39.0% who use specialised gift e-commerce sites.
Top 3 Gift Categories
Over 50% of consumers plan to buy gifts for their partners on Qixi. The top three categories are jewellery, digital products and beauty/skincare items. Women prefer home products, digital gadgets, and fashion items, while men lean towards flowers, beauty products, and jewellery.
High Gift Budgets
With increasing disposable income, Chinese consumers are more willing to spend on gifts to express their emotions and gratitude. According to iiMedia Research, 24.64% of respondents plan to spend between 501-1000 RMB, 20.06% plan to spend between 1001-2000 RMB, and over 21% will spend more than 2000 RMB.
Market Traffic Insights
Overall Traffic Trends
The ten days leading up to Qixi on August 22, 2023, showed a 10% increase in traffic, with sales peaking around August 13 and reaching another high during the weekend of August 18.
Content and Search Trends
Qixi-Related Search Trends Searches for Qixi-related content surged on the day itself, with search volumes increasing by 300% and content exposure rising by 500%. This indicates that users and creators on platforms like Kuaishou prefer to produce and consume related content on the day of the festival. Merchants are advised to start content promotion a week in advance to build momentum.
Shopping Search Demand Searches for terms like “Qixi activities” and “Qixi gifts” began to rise a week before the festival, peaking 2-3 days before. Merchants should align their product descriptions and links with these searches to boost exposure.
Qixi Festival Consumer Profile
Analyzing data from August 9-23, 2023, focusing on users who made at least two purchases in relevant categories with a total spend of over 100 RMB:
Demographics: Primarily women aged 30-40 from tier 3, 4, and 5 cities, including meticulous mothers and young town residents.
Purchase Preferences: Clothing, beauty/personal care, and food are the most popular categories among high-value, high-frequency buyers.
Content Preferences: These consumers favour fashion and lifestyle content.
Product Selection Strategy
Overall Industry Trends
Beauty Products: High Gross Merchandise Value (GMV) growth for cushion foundations, lipsticks, makeup sets, women's perfumes, and BB creams, with over 50% growth. Men’s BB creams and oil-blotting sheets saw GMV increases of 493% and 716%, respectively.
Skincare: Sets/gift boxes, facial serums, creams, and masks showed significant growth, with men's cleansers and essential oils increasing by 470% and 236%, respectively.
Personal Care: Sanitary products, shampoos, and hair straighteners showed significant GMV growth, with mouth sprays, throat/nose care products, and men's shampoos seeing over 100% increases during Qixi.
Home Living: Laundry cleaners, tissues, cooking utensils, and storage items saw noticeable growth. Shoe accessories and hotel supplies saw GMV increases of 312% and 704%, respectively.
Qixi Festival presents a unique opportunity for marketers and merchants to capitalise on the heightened interest in gift-giving. Businesses can effectively strategize their product offerings and marketing campaigns by understanding consumer behaviour, preferences, and trends. Leveraging e-commerce platforms, optimizing search trends, and aligning content strategies with consumer interests can significantly boost sales and brand visibility during this festive season.
Contact us today for tailored strategies to help your business thrive in this dynamic market.
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