Single’s Day (11/11) used to be the heyday for China’s consumerism, but this year the consumers went for the cheap stuff, says business analyst Shaun Rein at CNBC. Low consumer confidence forced the e-commerce platforms for the whole year to discount products, but Single’s Day was the cheapest event ever for consumers. Alibaba is losing its shine to newer platforms, he adds.
Shaun Rein is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers’ request form.
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