Reported 8 months ago
China's Singles' Day shopping festival on November 11 has seen diminished excitement as consumers are hesitant to spend amidst ongoing economic challenges. E-commerce platforms initially created to boost sales are now facing skepticism from consumers regarding promotional prices, leading to lower spending compared to previous years. Analysts suggest that a sluggish economy and reduced consumer confidence have contributed to the decline in growth for this once highly-anticipated shopping event.
Source: YAHOO