Chinese consumers, who have curbed spending amid the country’s strict COVID-19 controls, are still keen to grab online bargains from trusted foreign brands, providing a rare bright spot in a lackluster Singles’ Day shopping festival this year, reports the South China Morning Post.
The branded stores on Tmall, a key e-commerce platform of Alibaba Group Holding, acquired more than 66 million new “members,” a label given to loyal customers, during the pre-sales period starting October 24, according to data released by Alibaba.
A total of 82 brands, including US sports apparel giant Nike, US personal care group P&G, and outdoor gear producer North Face, each reported over RMB 100 million ($13.8 million) in “member generated” sales on November 1, according to selected data provided by the Hangzhou-based e-commerce giant.