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70% say no buying spree in upcoming shopping festival: survey

2018-10-26 07:11:55 Ecns.cn

Nearly 7 out of 10 respondents in a survey said they will buy only what’s necessary during the November 11 shopping festival, according to a report by China Youth Daily.

The 24-hour shopping carnival on Alibaba’s e-commerce sites Taobao and Tmall, also known as the Singles Day shopping festival, has been joined by numerous other online and offline shops.

For questions about top concerns in buying online, 68.1 percent of respondents consider the cost and their own financial situation, 58.3 percent think more of a product’s pragmatic uses and necessity, and 61.1 percent put personal interest as the first concern.

In the increasing integration of offline and online shopping, 70.4 percent think the shopping festival is only a marketing tactic, saying they will only buy what they consider necessary. Over 41 percent said there are too many shopping festivals and feel exhausted. About 8.2 percent believe there is no difference in the day.

In a question about consumption attitudes, 60.5 percent of respondents say it’s important to be a rational buyer while 39.7 percent prefer to spend as much as possible when they are young.

Ding Jianchen, a professor at the University of International Business and Economics, said there are consumption disparities from east to west and between urban and rural areas.

Among 1,969 participants aged 18-35 in the survey, 51.5 percent were men.

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