( ) -q-29- UNDATED (Correspondent Jeremy House) “and deflationary pressures.” The Singles’ Day shopping festival is looking less shiny this year as e-commerce firms look abroad for growth. [CutID: <Cuts> SINGLES-DAY-house-q-MONam.mp3 Time: 29s Title: SINGLES-DAY-house-q-MONam Out-cue: and deflationary pressures] TAG: Correspondent Jeremy House reporting. —————————– VERBATIM: The annual event named by the numeric form of […]
Audio
The Singles’ Day shopping festival loses its shine under China’s lagging economy
( ) -q-29- UNDATED (Correspondent Jeremy House) “and deflationary pressures.”
The Singles’ Day shopping festival is looking less shiny this year as e-commerce firms look abroad for growth.
[CutID: <Cuts> SINGLES-DAY-house-q-MONam.mp3
Time: 29s
Title: SINGLES-DAY-house-q-MONam
Out-cue: and deflationary pressures]
TAG: Correspondent Jeremy House reporting.
—————————–
VERBATIM: The annual event named by the numeric form of its November 11 date was started by e-commerce platform Alibaba, which offered attractive discounts to entice shoppers to spend big. The extravaganza has since expanded to other platforms and countries and often runs for weeks. But consumers in China are no longer going all out on spending sprees while China’s domestic economy is being dragged down by a real estate crisis and deflationary pressures.