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Podcast: レアジョブ英会話 Daily News Article Podcast
Episode: China’s Singles’ Day online shopping bonanza’s sales slow as shoppers opt for more affordable deals
Description: Sales during China's largest online shopping festival, Singles' Day, jumped almost 18% from a year earlier, but the pace of growth slowed as bargain hunters opted for more affordable deals.
Consumers have been tightening their belts, spending cautiously due to a prolonged slump in the property market, lagging wages, and high unemployment among the young Chinese who usually would be most likely to splurge on online purchases.
Chinese retail data provider Syntun said that the estimated combined sales value for this year’s online retail bonanza, the country's equivalent to Black Friday and Cyber Monday when e-commerce giants offer deep discounts, re...