Three keywords for China's "Double Eleven" consumption in 2023: rationality, national products,

silver-hair economy

Predictions of consumer behaviour and trends in the run-up to Double Eleven from different

regions of China suggest that consumer confidence is on the rise and that total spending is set

to exceed 2022 levels.

According to the data, the Double Eleven has the following characteristics:

First, compared with the loud slogan of "buy buy buy" in previous years, this year's consumers

have more rational precipitation, through the collection of information from different retailers

and platforms, in order to find the most cost-effective products has become the choice of more

people.

Spending on everyday essentials is strong, with consumers tending to spend on daily nece-

ssities. Luxury goods and premium products such as watches, jewellery, wines and spirits saw

the biggest drop in willingness to buy this year, and while consumers are still willing to reward

themselves by  increasing their purchases of non-essential items, caution and avoidance of

excessive extravagance or spending are one of the hallmarks of this year's consumption.

Second, local Chinese brands are expected to be the biggest winners in this year's Double

Eleven. Consumer loyalty to local Chinese brands is gradually increasing. This also echoes the

rationality of consumption - out of the deepening knowledge of local brands in terms of product

quality and safety, consumers are actively looking for local "alternatives" to overseas brands,

which is particularly evident for young consumers who buy clothing brands and accessories.

This is especially true for young consumers who buy clothing brands and accessories.

Third, the biggest surprise in this year's Double Eleven market may come from the silver-haired

generation.

The shopping motives of "silver-haired" consumers are broadly divided into two categories:

those who want to buy discounted products on Double Eleven, and those who want to buy

products that can improve their quality of life and make their old age more enjoyable.

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