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Singles' Day 2023: Less Shiny Than Before
China's Singles' Day shopping festival sees decreased consumer enthusiasm and e-commerce platforms look abroad for growth.
English
United States
EconomyChinaLabour MarketInternational TradeGlobal TradeRetailE-CommerceConsumer Behavior
AlibabaJd.comPinduoduoChina Market Research GroupTaobao
Wang HaihuaZhang JieweiShaun ReinZhao GaoDu Baonian
- How do Chinese consumers perceive the discounts and promotions offered during Singles' Day?
- Consumers are increasingly skeptical of promotional tactics employed by e-commerce platforms during Singles' Day, perceiving many offers as deceptive or not significantly cheaper than usual prices.
- What challenges are merchants facing in relation to participation in Singles' Day promotions?
- Merchants participating in Singles' Day promotions are finding that the high advertising costs often outweigh the profits generated from sales, leading some to withdraw from the event.
- Why have major e-commerce platforms stopped publicly releasing their Singles' Day sales figures?
- E-commerce platforms like Alibaba and JD.com have stopped publishing transaction figures for Singles' Day, indicating a shift away from focusing solely on domestic sales growth.
- What strategies are e-commerce platforms employing to offset the slowdown in the domestic Chinese market?
- Facing a slowing domestic market, e-commerce platforms are expanding into overseas markets, offering global free shipping and making it easier for merchants to sell internationally.
- What factors contributed to the less-than-stellar performance of this year's Singles' Day shopping festival in China?
- This year's Singles' Day shopping festival saw less enthusiasm from Chinese consumers due to a lagging domestic economy, characterized by a real estate crisis and deflationary pressures.