Chinas muted Singles Day shopping fest expects slow growth

News Summary

  • The lack of festivities has not gone unnoticed by consumers.“The gala used to feature top stars like Kobe (Bryant), (David) Beckham … but in just a few years it’s gone from its heyday to total silence,” said a Chinese user on Weibo.
  • Only 24% indicated that they would spend more.“The epidemic has been impacting us for three years, so everyone has become more rational (in spending),” said Liu Hui, a consumer who works in the internet industry.
  • Previous galas featured superstars such as Taylor Swift, Mariah Carey and even Cirque du Soleil, and typically included a countdown to the start of the Double 11 shopping day.
  • For the first time in eight years, Alibaba did not hold a massive gala the night before Nov. 11.
By ZEN SOO Associated PressHONG KONG (AP) Chinas biggest online shopping festival, known as Singles Day, is typically an extravagant affair as Chinese ecommerce firms like Alibaba and JD.com [+5849 chars]