Singles’ Day sales get ‘aggressive’ as shops tease Southeast Asia’s newly frugal consumers

Retailers are getting creative with discounts as the year heads towards a close with downbeat economic news from big spending Chinese tourists

Consumers are more cautious after a rough few years thanks to the pandemic, then a cost of living crisis exacerbated by Russia’s invasion of Ukraine

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Shoppers walk past a store on Orchard Road in Singapore. Like counterparts across Southeast Asia, Singapore’s High Street is facing a slowdown. Photo: Bloomberg

Published: 4:30pm, 10 Nov 2023Updated: 3:12am, 11 Nov 2023

From cheap flights to handbags, bulk buys of goji berries and two-for-one Botox injections, Southeast Asian businesses are desperate to claw back custom this Singles’ Day from shoppers made reluctant to spend by the stubbornly high costs of living.

From Bangkok to Singapore and Jakarta, shopping centres, stores and online outlets are offering discounts for a year-end boost after a difficult 2023, which heads towards its close with downward trending economic news from big-spending Chinese tourists.

The big hitters online, from Shopee to Lazada, are heavily discounting all kinds of items, with half-price goji berries to home appliances dutifully shared by an army of live-streamers.

A Thai clothes designer shows her items at Icon Siam shopping mall in Bangkok. Photo: AFP

“I carted out from Taobao mostly in preparation for Christmas,” said Lola Teo, 38, a Singapore-based mortgage specialist. “Singles’ Day sales would ensure that my buys will reach in time before Christmas.”

She also snapped up tickets for 13 passengers to Bali on sale with Singapore Air for S$4,590 (US$3,370).

“However, my overall spending is less than last year,” Teo said.

“I’ve been practising more rational spending as I grow older … not just due to rising prices but a change in thinking post-Covid on what’s necessary and important.”

Singles’ Day sales get ‘aggressive’ as shops tease Southeast Asia’s newly frugal consumers

Retailers are getting creative with discounts as the year heads towards a close with downbeat economic news from big spending Chinese tourists Consumers are more cautious after a rough few years thanks to the pandemic, then a cost of living crisis exacerbated by Russia’s invasion of Ukraine

Retailers are getting creative with discounts as the year heads towards a close with downbeat economic news from big spending Chinese tourists

Consumers are more cautious after a rough few years thanks to the pandemic, then a cost of living crisis exacerbated by Russia’s invasion of Ukraine