China’s Singles’ Day sees surge in ‘nationalist’ spending as home-grown brands storm sales charts
- Chinese designed and produced products dominated sales during Singles’ Day, the world’s biggest online shopping event
- The popularity of Chinese-made goods is part of a trend known as ‘Guochao’, which reflects growing interest in local brands
Domestically designed and produced products dominated the world’s biggest online shopping event, with sales volumes of novelty items such as museum merchandise, for example, reporting a fourfold increase on the first day of discounts compared to last year, according to the Chinese Consumers Association.
The popularity of Chinese-made goods is part of a trend known as “Guochao”, which reflects growing interest among consumers in local brands, design and culture.
Until recently and in many industries, Chinese brands were seen as less trustworthy and of lesser value than foreign brands by Chinese consumers
Internet searches for domestic goods rose by 42 per cent during this year’s Singles’ Day, the steepest rise in the past three years, according to data from search engine Baidu.
The top three most-searched for domestic brands were electronics manufacturers Huawei Technologies Co. and Xiaomi, followed by sportswear brand Anta.
“Until recently and in many industries, Chinese brands were seen as less trustworthy and of lesser value than foreign brands by Chinese consumers,” said Camille Gaujacq, analyst at market research firm Daxue Consulting.
“With the country’s development and rising nationalist sentiment, we observe both a rise in interest in cultural products, but also in domestic companies.”