Singles’ Day: Chinese e-commerce giants target new wave of budget-conscious consumers and lower tier cities

Spending patterns of Chinese consumers during Singles’ Day will be closely watched by the government as a key barometer of economic health. The nation’s leading e-commerce players have already cottoned on to more bargain-conscious buyers, eyeing the segment as a new growth opportunity. — SCMP

Unlike some of her colleagues who have shopped until the last minute of Nov 11 – China’s Singles’ Day, the country’s annual online shopping festival – Yang Fan has decided not to push things too far this year.

The 26-year-old finance manager who lives in Nanchang, Jiangxi province spent almost 12,000 yuan (RM7,484) last year on e-commerce platform Taobao, owned by Alibaba Group Holding, buying a handbag from designer brand Bally and high-end SK-II cosmetics.