Singles Day Sales Hit a Record High in China as Buyers Rack Up their Credit Card Bills

singles day china sales

A significant portion of sales during Singles Day shopping event of this year in China came from spending on credit, according to estimates from analysts. While it’s common to use a credit card to shop in the U.S., China has been known for its high savings rate and preference for paying only with funds at hand. Even widely used mobile payment systems function more like a debit card.

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Singles Day Sales Hit a Record High in China as Buyers Rack Up their Credit Card Bills via @MasterMindUpdate