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The new normal: Silver economy shines brightly as Singles' Day 2023 approaches
Beyond everyday categories like groceries and
hygienic purchases, Singles' Day shoppers this
year plan to spend more on Chinese lifestyle and
home furnishings, as well beauty and personal care
products. Looking at the cosmetic and personal
beauty industry, top Chinese brands are wellreceived
among middle-class Chinese consumers
for their affordability and quality. By using local
ingredients suited to Chinese skin and embracing
traditional Chinese medicine, consumers have less
reason to turn to foreign brands.
Shoppers want to buy local this Double 11, with 66% planning
to increase spend on Chinese brands, as indicated in
Figure 5 below. We collected this data across 13 countries;
products originating from the other 12 saw a net decrease in
purchase intent. In previous years, our survey indicated that
rising levels of national loyalty drove domestic purchases.
BUYING LOCAL IS AN EASIER DECISION AS CHINESE BRANDS
RISE IN QUALITY PERCEPTION
Increase spend Decrease spend
Increase spend Decrease spend
FIGURE 5: DOMESTIC BRANDS POSITIONED TO BE BIG WINNERS ON SINGLES' DAY-OVER TWO-THIRDS
OF CONSUMERS SAY THEY WILL INCREASE SPENDING ON CHINA-BASED BRANDS
FIGURE 6: TOP 3 COUNTRIES WHERE CONSUMERS EXPRESSED THEY WOULD REDUCE PURCHASE
Survey question: For each of the following countries of origin, would you foresee a change in the actual spend as compared to last year during Double 11?
Source: AlixPartners China Singles' Day Survey 2023 (N=2,150)
Survey question: For each of the following countries of origin, would you foresee a change in the actual spend as compared to last year during Double 11?
Source: : AlixPartners China Singles' Day Survey 2023 (N=2,150)
The top 3 countries with the most consumers indicating they would increase their spend in the survey
66% +55%
Product categories
consumers would
like to buy more
11%
23% 25%
21%
26%
General
groceries
Clothes Home
furnishing
Clothes Luxury
goods
Wines &
spirits
Wine and
spirits
Consumer
appliances
-2% -5%
China France Germany
33%
38%
48%
15%
16%
12%
Japan
South Korea
Thailand
This year, we attribute the increase to a growing perception
that Chinese brands are catching foreign brands in terms of
product quality and safety. A more knowledgeable consumer
base is actively looking to cheaper, viable alternatives to foreign
brands, and local options are closing the gap when it comes to
"premium" associations.
Chinese clothing brands and accessories also see
a bump in purchase intent, which we attribute to
the emerging "coolness" of Chinese fashion brands,
particularly among young shoppers.
Current trending examples boast outstanding
craftsmanship and scrupulous attention to
detail, while others factor sustainability into every
design and production decision, from sourcing
local materials and fabrics to minimizing waste
from production.