Subdued Sales for Singles’ Day, China’s Online Shopping Festival, Signal Weak Appetite for Spending
Signs so far show Singles’ Day, China ’s biggest online shopping festival, is failing to entice worried consumers into splashing out more, even when they are offered bargains. Singles’ Day, a landmark discount campaign similar to Black Friday and Cyber Monday sales in the US, is focused on Nov. 11, or 11-11, which is Wednesday. But it starts weeks earlier and is seen as a barometer for the broader economy.
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