The ongoing trade dispute between China and the United States has significantly changed the mindsets of Chinese consumers regarding the products they prefer to buy. A recently published survey has shown that three out of four Chinese consumers intend to avoid any US-made and branded items during the upcoming Singles' Day shopping spree event on November 11.
According to a survey of 2,000 adult Chinese consumers, more than 75 percent have stated that they will be actively avoiding buying any US-made products during the world's largest online shopping event this month. In a show of nationalism, the consumers stated that they will instead try to go for Chinese-made products instead to support their own country.
The outcome of the survey and the comments made by consumers has emphasized the clear effects of the protracted trade dispute in the country's retail industry. Changes in consumer behavior in the second-largest economy and the most populous nation in the world will have significant effects on other economies, particularly the US, further down the line.
The tit-for-tat tariffs imposed by both countries against each other has somewhat caused some resentment amongst Chinese consumers, especially those who had been directly affected by decreasing retail sales, import volumes, and logistics.
Industry experts have pointed out that pro-China sentiments are now at an all-time high in the country. The rapid development of local brands and their consequent improvement in quality and design have played in conjunction with the increase in pro-China sentiments to push consumers towards buying local products.
The upcoming Double 11 event in China is held by Alibaba Group Holdings through its e-commerce platforms Tmall, Aliexpress, and Taobao. The event held on Alibaba's platforms has evolved over the years to become the world's largest online shopping event, eclipsing Amazon's Prime Day and Black Friday.
In 2018, the event raked in a record $30 billion worth of goods sold based on gross merchandise volume. This was the largest value of goods transacted since the event was first established in 2009.
Despite the apparent economic slowdown and the worsening geopolitical situation, retail in China continues to proper. According to the survey, shoppers in first-tier cities such as Beijing and Chengdu have stated that they do plan to spend more on this year's event.
The 2019 Singles' Day sale is set to overtake last year's numbers based on the rise in interest and Alibaba's aggressive marketing. American pop icon Taylor Swift is set to headline this year's sale. Other big-name US stars that headlined past events included Mariah Carey and Nicole Kidman.
