China’s Singles Day sales could top 1 trillion yuan even as the economy cools
China’s Singles Day, the world’s biggest annual shopping event, is known for regularly smashing sales records. This year’s bonanza, which wraps up on Friday and is led by internet titans Alibaba\n \n and JD.com\n \n , will likely be no exception: Analysts expect it to rack up 1 trillion yuan in sales for the first time. Singles Day usually eclipses two of the world’s most popular sales events — Black Friday and Cyber Monday — combined.
“Given China’s weak retail sales this year, declining consumer confidence, unrelenting zero-Covid policy, and the uncertain macroeconomic environment, 11.11 festival growth could slow, as consumers are more cautious about making discretionary purchases,” Weinswig told CNN Business. “Additionally, increasing government regulation of the tech and live-streaming industries could hurt sales growth this year.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
China Singles Day events show 4.7% sales slide in first half of last day -research firmAlibaba Group Holding and other Chinese e-commerce firms holding Singles Day shopping events together logged a 4.7% decline in sales for the first half of the final day, a research firm said.
Baca lebih lajut »
Alibaba's Singles Day shopping event set to end with subdued sales and no fanfareAs Alibaba Group wraps up the world's biggest online shopping festival on Friday, the operative word seems to be flat - potentially flat sales and flat in tone with the Chinese e-commerce giant not even holding its usual gala show.
Baca lebih lajut »
China's muted Singles' Day shopping fest expects slow growthHONG KONG (AP) — China’s biggest online shopping festival, known as Singles’ Day, is typically an extravagant affair as Chinese e-commerce firms like Alibaba and JD.com ramp up marketing campaigns and engage top livestreamers to hawk everything from lipstick to furniture as they race to break sales records of previous years.
Baca lebih lajut »
CNN reporter shows what consumer price growth means for inflation | CNN BusinessInflation cools much more than expected in October. RahelSolomonCNN breaks down the latest numbers from the Consumer Price Index and addresses the layoffs at tech companies like Twitter and Meta. Watch:
Baca lebih lajut »
Fred Hickman, who helped launch CNN Sports and YES Network, dead at 66 | CNN BusinessFred Hickman, a pioneering sports broadcaster and anchor who helped to launch two major cable networks and influenced and informed a generation of sports journalists and fans, has died. He was 66.
Baca lebih lajut »