Australia is home to a large diversity of people from all different backgrounds. It’s one of Australia’s great strengths. A recent article on B&T reports that “with over 1.5 million people in multicultural Australia celebrating Lunar New Year, it is a critical time for brands to target this huge audience.”
Understanding our diverse population and including them in our marketing strategies is key to our success in the market. If we want to pull a rabbit out of a hat, we need to know as much as we can about the rabbit that’s in there. So, what is the Lunar New Year? And what does the Year of the Rabbit mean for us?
The Chinese zodiac consists of a rotating cycle of 12 animals. From tigers to dragons to oxen and rabbits, each animal represents a different set of attributes and qualities for the year ahead. This Lunar New Year, with its lucky red envelopes (hóngb?o), its dragon dances, and festive decorations of red and gold, was all about welcoming the Year of the Rabbit. With a rabbit being a symbol of longevity, peace, and prosperity in Chinese Culture, the Year of the Rabbit is predicted to be a year of hope.
We wanted to speak to these qualities of prosperity and hope. So, to ring in this Lunar New Year, we ran a campaign from the 19 – 22 January focused on premium and luxury products, offering boosted cashback on high-end fashion, beauty, sports and all the latest tech.
While all our categories went off like a celebratory firecracker, we did see some significant wins in specific areas. Our key winning categories included Fashion, Beauty, Food & Grocery and Gift Cards, with Fashion TTV, seeing a 148% increase, and Beauty TTV an 83% increase vs the 2022 Lunar New Year campaign. We also saw a jump in the popularity of the campaign, with a 97% growth in new shoppers vs the 2022 Lunar New Year campaign.
Sophie Stickland, Head of Client Services, Cashrewards says “Our Lunar New Year campaign is the perfect opportunity for brands to showcase their gifting options and engage with our members.” Adding “As an important cultural event on our calendar, it's great to see the joy and excitement that this campaign brings to our members and our brands really get behind it."
Some strong results so far, and this year of longevity, peace, prosperity, and hope is only just beginning. As we burrow deeper into the Year of the Rabbit, with all the opportunities and events still to come, the question is, how prosperous will this year be for you?
Will the year of the Rabbit see a hop in your sales?
Speak to one of our team members about the year ahead and let’s go down that rabbit hole together!