BINGE BUYING IN NUMBERS Online shopping-driven economics
2020-01-04 05:15ByYuanYanan
China Report Asean 2019年12期
By Yuan Yanan
Consumption has become the central pillar of China’s economic growth.On November 11,2019,Singles’ Day,China’s biggest shopping festival,reached its 11th year.E-commerce sales in China continued to increase:Alibaba set new record with more than US$38.1 billion in 24 hours.Rival e-commerce giant JD.com’s cumulative sales exceeded US$29 billion.
The Singles’ Day shopping wave also swept through some Southeast Asian countries,creating peaks in online consumption.Data shows that e-commerce consumption has the potential to become another important growth field for these countries.
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