Chinese e-commerce giant Alibaba Group Holding Ltd recorded 540.3 billion yuan ($84.54) billion in orders, or “gross merchandise value” (GMV), over its 11-day Singles’ Day sales event, marking a roughly 14% increase from the year prior. The results come as overall consumption in China slows, and cap a relatively muted version of a sales festival … Read more
Executives said they have had to be restrained in the deployment of employees — already reduced because of the pandemic — keeping in mind their safety. Synopsis Immediate, large-scale inoculations and reducing fatalities are key to restoring consumer confidence. Top corporates said the inability to deploy employees where needed on ground for the implementation of … Read more
The raging second wave of Covid-19 has resulted in a 3.8% dip in the index of consumer sentiment in April, the sharpest fall since May 2020, said the Centre for Monitoring Indian Economy. Week-on-week the decline in the consumer sentiment index has been steeper with the index falling by 5.4% in the week ended May … Read more
Higher income households, with higher savings and better sentiments, will drive the revival in consumer spending in India, the Centre for Monitoring Indian Economy said. “India’s revival in consumer spending is likely to be driven by households that earn more than a million rupees a year when the lockdown is lifted,” CMIE said in its … Read more
Indian consumers turned more pessimistic about the present and less gung-ho about the future, making them less likely to spend big in an economy that’s driven by domestic consumption. The current situation index fell to 53.1 in March from 55.5 in January, according to the Reserve Bank of India’s consumer confidence survey, where 100 is … Read more