Chinese brands outnumber foreign names among Singles Day best-sellers – ETBrandEquity
Alibaba said Singles Day sales were in line with last year, when gross merchandise value rose 8.5%, the lowest since the company started the shopping event in 2009. For the first time, Alibaba did not announce sales data this year.
The shopping festival is a much quieter event, with sales numbers expected to grow more slowly as consumers tighten their wallets amid an uncertain economy and the ongoing impact of COVID-19.
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