Report: Consumer Data to Know for Singles’ Day 2020
In a pre-Double 11 consumer survey, AlixPartners reports on how Chinese consumers might spend their money during the online shopping festival.
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- Key Takeaways
- Consumers are more willing to spend, thanks to China’s recovery momentum and government encouragement.
- Consumer spending for COVID-19 health and medical, food, and home care may dilute spending on fashion, but it’s also an opportunity for brands to embrace this trend.
- Local brands are riding a wave of patriotism, which means it’s time for foreign brands
- to “do local for local.”
- Participation in livestreaming shopping for this year’s Singles’ Day is expected to be high, as younger Chinese consumers and those from lower-tier cities are more likely to buy through livestreaming.
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