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Is China’s ‘Buy Buy Buy’ Mentality Over?
How Chinese e-commerce navigates the consumption downgrade
“Changing from frugality to extravagance is easy, but going from extravagance to frugality is hard,” Sima Guang (司马光), a politician from the Northern Song dynasty (960 – 1127), summarized over 1,000 years ago. Today, Chinese society is facing exactly this challenge as we enter the era of consumption downgrade.
Here are some of the popular ways Chinese e-commerce businesses are adapting to reach more cost-conscious shoppers. Read more essential Chinese phrases for cheapskates via the link here .
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