ertnews.gr

China’s Singles’ Day Sales: A Key Indicator for Economic Recovery

China’s major online sales event, Singles’ Day, concludes on November 11, generating significant interest amid efforts to revive consumer spending. Discounts, initiated by Alibaba in 2009, drew shoppers to major e-commerce platforms. However, for the second consecutive year, Alibaba and JD.com did not disclose detailed sales data. Analysts suggest sluggish domestic demand and caution that without stronger measures to stimulate household consumption, economic growth may struggle to return to pre-pandemic levels. Predictions indicate sales could exceed 1.2 trillion yuan, reflecting a 15% increase compared to last year, yet buying trends raise concerns about brand perception.

Source

LEAVE A RESPONSE