Consumers to spend more in Singles’ Day shopping spree

Source:Reuters-Global Times Published: 2015-11-4 21:18:01

Most online consumers in China will spend more during the November 11 "Singles' Day" shopping promotion this year than they did last year, according to the results of a survey by Netherlands-based consultancy Nielsen Holdings made available to Reuters on Wednesday.

In a survey of more than 1,000 Internet users in China this month, 56 percent said that they would spend more on Singles' Day this year compared to 2014.

One-third said they were likely to spend about the same on the biggest single day for shopping in China, and 6 percent planned to spend less, Nielsen said.

The survey, conducted from October 16 to 21, found the average expected spend among all respondents in 2015 was 1,761 yuan ($277.76), Nielsen said, showing an increase of 321 yuan, or 22 percent, compared with 2014.

This year's trend on a day also dubbed "Double 11" after its date will be watched closely for clues about private consumption as the world's second-biggest economy heads for its slowest growth in more than 20 years.

Official data shows retail sales grew more than 10 percent in September from a year earlier, but other indicators, such as auto sales, have shown big drops.

"It's not a huge surprise that consumers are planning to spend more during this year's Double 11," Yan Xuan, who leads Nielsen's business initiatives in China, said in a statement. "Income levels and Internet penetration continue to rise throughout China, so this is a natural progression."

The online sales event has ballooned since it was launched by e-commerce giant Alibaba Group Holding in 2009, and many retailers, including Alibaba rivals like JD.com Inc, stage sales promotions of their own.

In 2014, Alibaba reported a record $9.3 billion in sales on its platforms during the event.

The thousands of vendors featured on Alibaba's Singles' Day shopping sites hope to boost sales and gain customers.



Posted in: Industries

blog comments powered by Disqus