Most online consumers in China will spend more during the Nov. 11 "Singles' Day" shopping promotion this year than they did last year, according to the results of a survey by consultancy Nielsen Holdings made available to Reuters on Wednesday.
In a survey of more than 1,000 internet users in China this month, 56 percent said that they would spend more on Singles Day this year compared to 2014. A third said they were likely to spend about the same on the biggest single day for shopping in China, and 6 percent planned to spend less, Nielsen said.
The survey, conducted from Oct. 16 to 21, found the average expected spend amongst all respondents in 2015 was 1,761 yuan ($277.76), Nielsen said, showing an increase of 321 yuan, or 22 percent, compared with 2014.
This year's trend on a day also dubbed "Double 11" after its date will be watched closely for clues about private consumption as the world's second-biggest economy heads for its slowest growth in more than 20 years. Official data shows retail sales grew more than 10 percent in September from a year earlier, but other indicators, such as auto sales, have shown big drops.
"It's not a huge surprise that consumers are planning to spend more during this year's Double 11," Yan Xuan, President of Nielsen Greater China, said in a statement. "Income levels and internet penetration continue to rise throughout China, so this is a natural progression."
Last year, Alibaba reported a record $9.3 billion in sales on its platforms during the event.