Chinese consumers plan bigger budgets for this year’s Singles’ Day

Chinese consumers plan bigger budgets for this year’s Singles’ Day
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However, new YouGov research also reveals that fewer consumers intend on buying clothing and accessories this year

Chinese consumers look set to spend more on Singles’ Day this year than they did last year. New research from YouGov Omnibus finds that around six out of ten (60%) Chinese consumers that intend to shop on 11.11 have budgeted more than ¥1,000 this year. This is up from 49% who said the same last year.

The biggest increase in spending is among those aged between 18 and 24. Whereas just a quarter (25%) of those aged 18-24 planned to spend over ¥1,000 in 2016, this has risen to four in ten this year (40%). However, millennials (those aged between 18-34) still intend on spending less overall than their seniors. Nearly half of all millennials (46%) intend on spending less than ¥1,000. This compares with three in ten (30%) for older generations.

It is not only that consumers are planning on spending more this year but there are also more consumers planning to shop on Singles’ Day this year. Of those polled, nearly one in ten (9%) say this year will be their first time shopping on 11.11. Nearly three quarters of respondents (73%) are repeat shoppers.

Millennials more likely to buy cosmetics but less likely to buy clothing on 11.11

Overall, consumers seem to have a good idea of what they will buy on Singles’ Day; just 1% do not have a plan for what they plan on purchasing. While clothing and apparel remains the most popular purchase for consumers, fewer intend on making purchases from this category on Singles’ Day this year, down from 64% of those polled in 2016 to 55% this year. The popularity of snacks, bakery and confectionary has also seen a slight fall this year, down from 49% to 42%.

By contrast, alcohol is seemingly a more popular choice for Singles’ Day shoppers this year, up from 13% in 2016 to 17% in 2017.

Perhaps unsurprisingly, fewer millennials intend on buying household items on Singles’ Day than older generations. This is true for both household appliances and furniture (on the 11.11 shopping lists for 19% of millennials but 30% of older generations) and household care products (18% of millennials plan to shop in this category on 11.11, compared with 29% of older generations). Millennials are also significantly less likely to be shopping for clothing and apparel on Singles’ Day (51% of millennials intend on buying clothing and apparel, whereas 62% of older generations intend on doing the same).

However, millennials are more likely to be shopping for items such as cosmetics and skincare products (37% of millennials intend on buying such products, compared with 28% of older generations) and snacks, bakery and confectionary products (44% of millennials plan on buying them, whereas 37% of older generations say the same).

*Data was collected online by YouGov Omnibus between 24 and 27 October 2017 among 2,006 respondents in China. 2016 data was collected from 1,259 respondents between 1 and 4 November 2016. Results are representative of the adult online population.