What is the Qixi Festival?
Qixi Festival, The Chinese New Year. It is known to be much more than just Chinese New Year, it is also known as Chinese Valentine’s Day. Usually, the Chinese buy presents for their lovers on The Qixi Festival. This Festival is incredibly important to the Chinese and a very important part of their tradition.
Why is the Qixi Festival Important for The Chinese?
The Chinese celebrate the annual meeting of the Cowherder and the Weaver Girl in mythology. It falls on the 7th day of the 7th Lunar Month. It celebrates the undying love of the Cowherder and the Weaver Girl, and it inspires others to love.
How, Many Luxury Brands eased the opportunity :
Everybody is aware of the difficult times the whole world is facing from the past few months. And, these past few months have not been kind to a major part of the world, especially The US. So essentially the sales have down for a lot of luxury brands.
These Luxury Brands look at the Qixi Festival as an opportunity for them to get back up on their feet. China’s Economy started rebounding from the Corona Virus at the beginning of the second quarter of this year. Hence, luxury brands look at this as a great opportunity for them to regain sales. Brands like Tiffany and Burberry have reported an increase in sales of 30%-90%, which far better than any other market.
A few brands have had quarrels with Chinese customers in the past, but they seek to fix those setbacks this year. Chinese customers spend heavily on The Qixi Festival as we Indians do on Diwali. Keeping this in mind the luxury brands drop exclusive collections for their Chinese customers. More and more luxury brands are getting associated with apps like Tmall and WeChat to reach maximum Chinese customers.
The bottom line, as the US economy has been sinking many Luxury Brands have been shifting their focus on different potential markets where they can see a significant increase in sales. As in this case, The Qixi Festival in China is a big opportunity for them because of the Chinese Economy getting back up on its feet.