Angelito Araneta Jr's gold and diamonds decorated rabbit-shaped sweet rice cakes have a very high demand among the wealthy Chinese-Filipinos who traditionally use such cakes to attract good luck in the Year of Rabbit and also for the well-being of their families and friends.
Covered in gold and small pieces of diamonds, Angelito Araneta Jr's gold rice cakes can cost upto $2,700 a piece.
Implications - Youth consumers are gravitating towards imagery of rabbits as a direct result of the intelligence that they represent. By using animals to represent qualities that consumers would like to foster in themselves, companies can forge a deeper and more meaningful bond with them.
Why This Trend Is Growing
- High-demand Luxury Rice Cakes
- Opportunity for luxury food brands to create high-end, decorative rice cakes for wealthy consumers.
- Symbolic Animal Imagery
- Opportunity for companies to incorporate animal symbolism in their products to resonate with youth consumers.
- Wealthy Chinese-filipino Market
- Opportunity for businesses to cater to the specific tastes and traditions of the wealthy Chinese-Filipino community.
Industries Being Reshaped
- Luxury Food
- Luxury food brands can capitalize on the demand for high-end rice cakes with ornate decorations.
- Youth Marketing
- Companies focusing on youth market can incorporate animal symbolism in their products to appeal to younger consumers.
- Cultural Catering
- Businesses can specialize in providing products and services that cater to the cultural traditions of the wealthy Chinese-Filipino market.
