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The Chinese economy is struggling and Singles’ Day on November 11 – which is also, and above all, a festival of sales – is no longer so popular in China. At least, that’s what consumer surveys conducted ahead of the world’s biggest online shopping event suggest.
By our Beijing correspondent, Stéphane Lagarde, and Louise May
A countdown to a sales record: for more than a decade, consumer debauchery began at midnight -every November 11- with images of Internet users frantically indulging in online sales.
This morning the state media is more reserved, as are consumers. Ms. Zhou, who works in the high-tech industry, says: “In the days leading up to November 11, I did not spend any more or less than in previous years. I am attentive to sales, but today I will only buy what I I need. I’m careful because they haven’t raised my salary this year.”
Cautious Consumers
Cautious consumers who save more than they spend. According to a survey by China Newsweek magazine, 40% of respondents said that their budget for online shopping had decreased this year. This is the case of this 27-year-old hairdresser: “Actually, this year I haven’t looked at the sales. Just because I don’t need anything. I used to look, but this time I didn’t even look,” he says.
“I don’t think I’ll need much this year, as I still have things I bought on sale last year, like tissues and cleaning supplies. But hey, it’s tempting. I’ve seen some discounted items, so maybe I’ll buy them,” she adds.
Barometer
It is difficult to resist the pressure of marketing and sales. There is no doubt, in any case, that tonight’s 2022 Singles Day sales result will be closely watched, as for many investors November 11 has become an important barometer of consumer spending. homes.
