China’s Covid pivot fails to brighten Double 12 online shopping festival as consumers remain cautious
- Double 12, the first major online shopping event after China eased its pandemic measures, failed to generate much buzz
- Cash-strapped consumers and the increased frequency of promotional events may have dampened spirits despite China’s zero-Covid exit
Unlike last month’s Singles’ Day extravaganza, when e-commerce companies pledged hundreds of millions of yuan in subsidies and discounts to entice Chinese consumers to loosen their purse strings for the annual shopping spree, major platforms have largely withheld steep price cuts during the Double 12 festival, which falls around December 12.
04:53
‘All my colleagues are infected’: Beijing residents say Covid cases surging as pandemic rules ease
As shopping sites hold more promotions throughout the year, less glitzy events such as Double 12 are attracting less attention, according to Mo Daiqin, a senior analyst at e-commerce consultancy 100ec.cn.
“E-commerce promotions are frequent these days,” she said. “Especially after the advent of live-streaming e-commerce, there have been promotions every month. Consumers now have more choices.”
Consumers who had just splurged during Singles’ Day might also have a limited budget for another round of shopping, Mo added.
Mo’s view was echoed by Chen Tao, an analyst at research firm Analysys.
