South China Morning Post

Why world’s largest online shopping festival cannot get Chinese consumers spending again

Hangzhou bank employee Xiao Na says she has no plan to buy anything during China’s ongoing Singles’ Day shopping festival, the world’s largest online retail promotion. “When I think about hunting around for things to buy just so I can use all kinds of coupons, the money I save is dwarfed by what I’ve lost in the stock market,” the 37-year-old said. “Stocks are falling, home values continue to slide, and my salary isn’t going up. Keeping more cash in my pocket is the best strategy.” Consumers...

By South China Morning Post

1 min read
Why world’s largest online shopping festival cannot get Chinese consumers spending again
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