Singles' Day Loses Spark: Chinese Shoppers Turn Skeptical

Once a major sales event, Singles' Day is now seeing dwindling enthusiasm from both consumers and merchants. Once thriving with booming discounts, the festival's appeal is declining amid China's sluggish economy. Consumers grow wary of marketing tactics, while merchants face declining returns on investments.

Once a glitzy display of consumerism, Singles' Day is dimming as shoppers in China grow wary of excessive marketing ploys, and an economic downturn tempers their spending. The event, which took the country by storm with its attractive promotions, is losing its shine amid skepticism and financial caution.

Initiated by Alibaba, Singles' Day has expanded from a one-day shopping frenzy to weeks-long sales across platforms like JD.com and Pinduoduo. Despite extended promotions, consumers are tightening their belts due to economic woes such as a real estate slump and deflationary trends.

Merchants are also feeling the pinch, facing rising advertising costs without satisfactory returns. While platforms shift focus to global markets for growth, the once flamboyant shopping festival might slowly fade unless economic circumstances and consumer sentiment improve.

(With inputs from agencies.)