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

Topic |   Singles' Day (11.11)
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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