China's Singles' Day sales festival fails to inspire consumers

SHANGHAI - China's largest shopping event is under way, but most merchants and retail analysts expect flat or, at best, tepid sales growth, noting that consumers are still very much dispirited by the country's economic woes.

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The Singles' Day shopping extravaganza, which began last week, has morphed from an Alibaba event aimed at persuading single people to pamper themselves into a weeks-long festival that peaks on Nov 11 across all of China's major e-commerce platforms as well as in bricks-and-mortar stores.

Furniture vendor Wu Qian said he registered on JD.com this time because it was an opportunity to clear inventory and perhaps eke out a small profit. But he is not expecting the event to show overall sales growth.

"Consumers no longer wait for shopping festivals to shop," he said, adding that diversification in China's e-commerce platforms meant consumers had an array of choices all year round.