State media outlets, including Renmin Daily and Xinhua News Agency, have backed an anti-consumerism sentiment that has been growing in China.
Thirteen brands surpassed US$150 million in sales by 12:35 am on Singles Day, according to Alibaba. Also, see Katy Perry's "appearance" and a new fleet of autonomous delivery robot vehicles.
Cartier's first-ever livestream attracts 770,000 viewers, and imported products including coffee beans and camel milk see high demand as the festival officially kicks off.
Even as shoppers in China's lower-tier cities increase their spending, brands face the prospect of slimmer average billing from consumers there, compared to their metro counterparts.
Revenues up 38%, profits 50% in Q3, but first quarterly topline decline on record looms as festering Covid-19 hits business hard
Live-streaming provides a new channel for brands to present themselves and sell products, especially to Chinese lower-tier city consumers.
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