Chinese consumers spend big over Singles’ Day shopping spree — Xinhua

Summary:
Alibaba's e-commerce platform Tmall generated 540.3 billion yuan (about 84.54 billion U.S. dollars) in gross merchandise volume (GMV) during the annual shopping bonanza from Nov. 1 to 11, reflecting a dynamic Chinese consumption economy....More than 290,000 brands have participated in this year's shopping promotion, and over 45 percent of consumers that made purchases were born in the 1990s and 2000s, according to the company. Consumers born in the 2000s increased by 25 percent year-on-year, it added.... ECNSChinese consumers spend big over Singles' Day shopping spreeXinhuahttp://www.ecns.cn/business/2021-11-12/detail-ihassuxx1472008.shtml

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