Lucrative Lunar New Year | BCBusiness
Lunar New Year ushers in a lucrative spending season for some Vancouver retailers.
As Lunar New Year celebrations ramp up around Vancouver, many retailers are celebrating the accompanying ring of cash registers.
Last week, I accompanied a friend on my first trip to Aberdeen Centre. Since I’m still new to Vancouver, I was curious to see the Asian-themed mall.
The moment I walked in and saw every floor decked out with colourful Chinese lanterns and massive blow-up dragons, I realized many Vancouver retailers actually cash in twice a year: Christmas and Lunar New Year.
As pointed out Wednesday in The Vancouver Sun, the surge in Chinese immigrants in the Lower Mainland has altered the retail landscape. With the emergence of Asian-themed retailers and malls, such as International Village in Chinatown and Aberdeen Centre in Richmond, Lunar New Year now offers a Christmas-sized boost in retail sales.
Lunar New Year, a 15-day celebration that kicked off Monday, draws many members of the Asian community out to mark the new year of the dragon. That celebratory spirit provides an economic opportunity for stores, with customers treating family, friends and themselves to dragon-themed goodies, clothes, housewares and other gifts.
What helps merchants helps our community and our local economy. Now that’s something to celebrate.