China’s Single’s Day broke several records, but that is deceptive. Consumers waited for bargains and delayed purchases till Single’s Day, says retail analyst Ben Cavender to Reuters.
Reuters:
“What’s happened is that you’ve had a lot of consumers this year being a little bit more careful about their purchasing because the economy’s slowing down,” said Ben Cavender, managing director of consultancy China Market Research Group.
“I think this year especially, people were kind of waiting for Singles’ Day and kind of waiting to make some of those medium-sized purchases that they didn’t want to pay full price for.”
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