Foreign businesses cash in on Chinese holiday economy

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Last updated at: (Beijing Time) Tuesday, January 20, 2004

Foreign businesses cash in on Chinese holiday economy

As the Chinese Spring Festival approaches, foreign restaurants have incorporated Chinese culture in their settings and food to attract local customers. With globalization, while made-in-China Christmas trees may be erected outside the White House in the United States, the Chinese holiday market may become a big profit to the foreign businessmen,market analysts say.

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Colonel Sanders is dressed in traditional Chinese clothes, pickled duck tops pizzas at Pizza Hutand red Chinese knots hang in McDonald's.

As the Chinese Spring Festival approaches, foreign restaurants have incorporated Chinese culture in their settings and food to attract local customers.

"We try to create a Spring Festival atmosphere even though we are a foreign fast food restaurant," said Wang Jianhui, assistant public relations manager of Beijing McDonald's Corporation.

McDonald's plans to broadcast China Central Television's Spring Festival Gala, the biggest holiday celebration of the year, on the Lunar New Year eve and extend business hours to late night during the upcoming seven-day holiday.

"Most people stay at home for Chinese dinner on new year's eve,but our business gets into full swing as soon as the holiday starts," said an employee surnamed Kang with Xiamen McDonald's Corporation.

China's small or medium-sized restaurants usually close during the Spring Festival and the extravagant hotels are too luxurious for the average Chinese. In this sense, foreign fast food restaurants take advantage of this opportunity to grab the market share.

Foreign hypermarkets like Wal-Mart, Carrefour and Metro have also taken advantage of the pre-festival shopping spree to cash inon Chinese customers. Aisles for candies, preserved ham, wine and cigarettes were newly-added.

"I like to do my pre-festival shopping in Carrefour. They have got all the stuff from imported cheese to homegrown fresh fruits and vegetables," said Ms. Zhao at a Beijing-based Carrefour Baishiqiao store.

Wal-Mart started the preparation four months ahead of time, ordering goods from all over the world.

The flow of customers has increased and the peak season is expected to last fifteen days until the Lantern Festival, according to its staff.

IKEA of Sweden increased the supply of cooking utensils and functional home furnishings before the festival.

"They all sell briskly," said Xu Lide, an employee with IKEA's Beijing store, "Most Chinese host relatives and friends at home during the holiday and they need them."

A survey conducted by the Beijing-based Society Survey Institute of China indicates that urban Chinese tend to spend 1,500 to 3,000 yuan (183 to 366 US dollars) per household on averageon festival costs.

With globalization, while made-in-China Christmas trees may be erected outside the White House in the United States, the Chinese holiday market may become a big profit to the foreign businessmen,market analysts say.

Source: Xinhua

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