Golden Week 2019: Still as Golden as Ever?

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By Published On: October 17, 20190 Comments

Golden Week, the seven-day national holiday in China, presents the country with its second-busiest tourism period of the year. Alipay has released new data on the Chinese holiday and how it affected Australian retail. 

Alipay is the world’s leading mobile payment and lifestyle platform, with more than 900 million active users across the globe. Throughout Golden Week, transactions in Australia via Alipay rose by 25 per cent compare dot 2018. This can be associated with a drive of luxury products, as well as ‘solid support’ by airports and its duty-free stores, pharmacies and other merchants.

Popular tourist destinations throughout Australia, including China Town and the Sydney Fish Market also played a massive contribution to this lift in transactions, Alipay explained.

Currently, Australia is the fifth most popular tourist destination for Chinese travellers during Golden Week. Australia sat behind Japan, Thailand, South Korea and Malaysia. European and South-East Asian countries are on the rise too, including Montenegro, Iceland and Uzbekistan, which have risen in popularity in the last few months.

With this in mind, it’s important for retailers in Australia to stay on top of the competition from other countries. “Our pristine environment, natural wonders and relative proximity to China have long-established Australia as one of China’s favourite tourism destinations, however, as other countries across Asia and further afar increasingly target the Chinese market, local merchants need to ensure they are rising to the competition,” explained John O’Loghlen, Director of Alipay Australia and New Zealand.

“This means tailoring your digital and in-store engagement strategies to the Chinese market, and reaching out to Chinese consumers through the mobile platforms they engage with daily, such as the Discovery marketing tools on the Alipay platform. This is particularly crucial for key periods such as Lunar New Year and Golden Week, and the growth we’ve seen in transaction volume across sectors like luxury goods is a testament to the effectiveness of this strategy.”

Aside from other countries coming into popularity, there has been a noticeable generational shift to the data. The younger generation of Chinese tourists (born after the year 2000) used Alipay more than the older generation, with a noted increase of 130 per cent in Golden Week.

According to the report, ‘China is Australia’s largest and most valuable tourism market, with more than 1.4 million visiting Australia in the year ending April 2019, with an annual trip spend of more than $12 billion, on annual growth of 10 per cent’.

As of 2018, 99 per cent of Chinese tourists have Alipay installed on ther smartphones, and 1,244 overseas merchants found that nearly 60 per cent of those who adopted the Alipay payment options saw ‘subsequent growth’ for both foot traffic and revenue.

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