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While brick-and-mortar stores hold their own sales, China’s e-tailers offer massive discounts on Nov. 11. (DAVID GRAY/REUTERS)
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Bargain-basement prices (and profits) on China’s Cyber Monday
— Financial Times
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Okay Cyber Monday, let’s see what you’ve got. China’s equivalent – Singles’ Day, or Double 11 – is already twice the size of the U.S. post-Thanksgiving online shopping bonanza. Such Hallmark holidays are criticized for having no meaning. That misses the point: Who cares, so long as everyone gets what they came for? Chinese shoppers seem happy. But retailers’ profits are another matter.
