Alibaba Saw Record Singles Day Sales but Don't Call It a Win for China's Economy
Chinese e-commerce giants may have eked out another year of sales growth on Singles Day, but the data isn't all encouraging.
Source: marketwatch.com
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EXPLAINER | What is China's Singles Day, and how is it celebrated?
Black Friday? No. Cyber Monday? Nope. Prime Day? Absolutely not. The world's biggest shopping event happens in China each year - and it's called Singles Day.
Source: timeslive.co.za
china singles day: Price wars during Chinese shopping fest expose consumer woes
This year's festival is being more closely watched than ever as a gauge of consumer confidence as China flirts with deflation and has identified boosting household demand as key to avoiding lost decades of sluggish growth.
Source: indiatimes.com
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Chinese e-commerce platforms offering deep discounts for Apple's iPhone 15
Counterpoint Research said that iPhone 15 sales in China were down 4.5% compared with the iPhone 14, in the first 17 days after its market launch
Source: theglobeandmail.com
Apple: Chinese retailers offer deep iPhone 15 discounts, Telecom News, ET Telecom
In China, Apple will occasionally allow partner vendors to offer discounts to spur demand. But Chinese e-commerce platforms have also been locked in a "value for money" battle as consumers tighten their belts amid a slowing economy, with discounting a key focus of forthcoming annual Singles Day shopping festival.
Source: indiatimes.com