Tech products, AI services drive Singles Day sales

By FAN FEIFEI | CHINA DAILY | Updated: 2024-11-12 07:07 Workers sort express delivery packages at a courier logistics company in Lianyungang, Jiangsu province, on Monday. GENG YUHE/FOR CHINA DAILY Chinese consumers have shown vibrant purchasing power for premium intelligent electronic devices and home appliances featuring innovative technologies during this year's Singles Day shopping carnival, which experts said played a vital role in promoting the recovery of consumption and shoring up the economy. Data from Tmall, Alibaba's business-to-customer platform, showed that 139 household appliance brands saw their sales surpass 100 million yuan between 8 pm on Oct 21 and midnight on Monday, fueled by the country's consumer goods trade-in program and massive shopping subsidies from governments and retailers. Consumption has become the main driving force boosting China's economic growth, and the Singles Day shopping extravaganza is pivotal to further stimulating people's purchasing appetites and unleashing new consumption potential, said Wang Yun, a researcher at the Chinese Academy of Macroeconomic Research. "A series of pro-consumption policies, such as the consumer goods trade-in program, are crucial for revving up the sales of electronic devices and home appliances on major online marketplaces," Yu said, adding that retailers hope to launch new products to attract consumers and build their brand image during the shopping festival.