Daily Management Review

Survey: Chinese consumers refuse foreign goods on Singles' Day


Most Chinese people intend to buy only Chinese brands on Singles' Day, the world's largest sales day held on 11 November.

According to AlixPartners, a consulting company that conducts an annual survey of Chinese consumers ahead of the sales season, 66% of the Chinese will buy mainly local brands on 11 November. At the same time, 57% of Chinese consumers intend to spend less on buying American goods and 39% will spend less on buying European goods. And most of them (62%) named 'patriotism' as the main reason for this decision.

The survey showed that this year's Singles' Day, which is the Chinese equivalent of the American Black Friday, may become even more ambitious than in the past: 96% of respondents said they would take part in it (92.4% last year). 

At the same time, 39% of consumers are willing to spend more on shopping this day than in the last year, and only 15% of those surveyed want to spend less. The majority of consumers see this as an opportunity to save money (45%) or to buy a particular product that is being produced on this very day (38%). 

Those who do not want to participate explain this for a number of reasons, including the fact that orders are delivered too long or they do not want to sit up late waiting for better discounts; some are simply against excessive consumption. According to the survey, the most popular shopping platforms are Taobao, Tmall and JD.

source: cnbc.com