China's 'Singles Day' shopping bonanza loses its lustre / 343289P
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Description
China's annual "Singles Day" sales bonanza has consumers largely unswayed by its flashy deals and discounts as the world's second-largest economy slows. A reports shows that sales for Singles Day in 2022 reached 1.1 trillion yuan ($153 billion), but this year, over 77 percent of people surveyed said that they did not plan to spend more than usual during the sales event.
"The discounts for November 11th are not huge, the prices are not that different compared to other days. So I didn't buy anything," says Guan Yonghao, a Beijing resident. IMAGES AND SOUNDBITES