This year’s Singles’ Day was weighed down by China’s slowest economic expansion pace in decades, as growth slowed to 4.9 per cent in the third quarter. Photo: AFP
This year’s Singles’ Day was weighed down by China’s slowest economic expansion pace in decades, as growth slowed to 4.9 per cent in the third quarter. Photo: AFP

Singles’ Day sales hit by rising anti-consumerism sentiment, China’s youth warn of ‘vicious circle’

  • Sales during Singles’ Day, the world’s biggest online shopping event, grew to a record 540.3 billion yuan (US$84.4 billion) during the 11-day campaign
  • But the first single digit growth figure since the event started in 2009 could partially have been caused by a growing tide of anti-consumerism sentiments in China

This year’s Singles’ Day was weighed down by China’s slowest economic expansion pace in decades, as growth slowed to 4.9 per cent in the third quarter. Photo: AFP
This year’s Singles’ Day was weighed down by China’s slowest economic expansion pace in decades, as growth slowed to 4.9 per cent in the third quarter. Photo: AFP
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