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A screen shows Alibaba’s sales volume exceeding 100 billion yuan after one hour during 2019 Alibaba 11.11 Global Shopping Festival on November 11, 2019 in Hangzhou, China.
VCG | Visual China Group | Getty Images
The e-commerce giant Alibaba‘s annual Singles Day shopping event could be a boon for Chinese brands, according to a new survey.
Sixty-six percent of Chinese consumers say they’ll be shopping for domestic brands over foreign labels during the shopping event, which is held on Nov. 11 each year. This is global consulting firm AlixPartners’ third survey tied to the event. It polled 2,029 adult Chinese consumers from Sept. 30 to Oct. 6. The majority surveyed, or 62%, cited “patriotism”…
Source cnbc.com
