Traditions go online
Mooncakes are traditional Chinese bakery pastries that are eaten during the Mid-Autumn festival, marked on the 15th day of the eighth lunar month. They typically have a thin tender crust, with fillings that include red bean or lotus seed paste, and may include salted egg yoke. The Chinese often give these pastries as gifts to relatives, friends and business associates. The popularity of mooncakes has grown beyond its Chinese origins and spread to Asia and even the West, where it is enjoyed as a delicacy.
Unsurprisingly, mooncakes are big business. The global market size for these pastries was recorded at USD2.2 billion in 2019. In terms of revenue, the market is projected to reach USD2.5 billion with 3.4% annual growth rate by 2025.
Because of the present global health situation and social distancing guidelines, retailers have moved away from the usual sales tactic of events, fairs and bazaars to instead offer attractive deals online to entice consumers to buy mooncakes. These range from flight booking discounts, to credit card offers and more.
Will online offers help drive mooncake sales during this year’s Mid-Autumn festival?
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