Business analyst Shaun Rein is interviewed by marketing guru Ashley Dudarenok on the most recent developments, as consumer confidence in China is slowly recovering at the end of 2023. But because of the ongoing trouble with the US, and because US firms fear more counterproductive measures by US President Biden, there are still many bears on the road to economic recovery. China focuses more on domestic companies, as US companies retreat, and the global south turns decisively to China for support, he says.
Single’s Day (11/11) used to be the heyday for China’s consumerism, but this year the consumers went for the cheap stuff, says business analyst Shaun Rein at CNBC. Low consumer confidence forced the e-commerce platforms for the whole year to discount products, but Single’s Day was the cheapest event ever for consumers. Alibaba is losing its shine to newer platforms, he adds.
China’s consumer confidence remains low, even when its largest e-commerce platforms offer massive support, says business analyst Shaun Rein at the Hill. Rein said that consumers were less likely to spend more during 618 as merchants had already been discounting heavily for years because of the pandemic, and deals were not that much better compared to previous months.
Both consumers and e-commerce firms in China are preparing for the famous 618 shopping festival. Marketing guru Ashley Dudarenok explains in her vlog why consumers love the largest of many online shopping festivals and why e-commerce firms need a boost in a market that is not growing as fast as in the past.
E-commerce platforms are doing very well in China, but that does not mean they can easily gain consumer’s trust, says marketing expert Ashley Dudarenok on Marketing-Interactive. A few tips: the platform should be easy to use, and the quality of the products should be impeccable, she adds.
Overwork in China – called the 996 culture – is rampant, especially in the IT industry. The recent death of a Pinduoduo employee also shocked social commentator Zhang Lijia. For her, this cannot be solved by the industry or employees, but the government should step in, she writes in the South China Morning Post.