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Singles’ Day: a slump in consumer spending

Singles’ Day presents mail-order companies with significant challenges every year. They had their hands full in 2021, too.

When Alibaba invented Singles’ Day in 2009, it was the start of a great success story. The idea of an online bargain shopping day, modeled on Black Friday or Cyber Monday in the USA, simply fitted the zeitgeist. China’s economy was booming. The rapidly growing Chinese middle class had plenty of money to spend. Year after year, Alibaba and other online retailers like JD.com – who also jumped on the bandwagon – set new sales records. Manufacturers, mail-order companies and logistics providers prepare for this peak virtually all year. Inventories are gradually filling up – until they are plundered by customers in one fell swoop in November.

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