Saturday 28 November 2020
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scmp - 9 days ago

China Singles’ Day: do record sales really show a rebound in consumer spending?

Chinese consumers may have spent a record amount during the annual Singles’ Day shopping extravaganza early in November, but experts are split over whether it shows an acceleration in consumer spending following the coronavirus pandemic or simply savvy shoppers taking advantage of cutthroat deals.Touted as the world’s biggest online shopping spree, Chinese splurged 769.7 billion yuan (US117.2 billion) this year on everything from jewellery to houses, in what some say is evidence of a strong…


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