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Retail sales made during Chinas annual Singles Day shopping event reportedly slowed again this year amid the countrys economic challenges and consumer skepticism about retailers promotions.While eCommerce platforms used to see growth in the double digits during Singles Day, more recent estimates put those figures in the low single digits, AP reported Monday Nov. 11 .Singles Day, which started as a one-day event held on Nov. 11 but is now being promoted by retailers weeks earlier, is often viewed as a
stanley cup barometer of consumer sentiment in China, according to the report.Consumer interest in the event has faded amid the countrys real estate crisis and deflationary pressures, per the report.When AP interviewed consumers about their views of the shopping event, one reportedly buying only daily necessities, while another said some of the supposed deals offered during the event are only discounts on prices that were raised immediate
stanley polska ly before the event.Furthermore, discounts have been common over the past two years because of Chinas weak economy, and they havent gott
stanley hrnek en any better during Singles Day, according to the report.Amid slowing sales in the domestic market, eCommerce platforms and their merchants have turned their focus to international opportunities, per the report.Singles Day started out as an occasion celebrated by university students but was popularized by Chinese eCommerce retailers Alibaba as a retail shopping event beginning in 2009, PYMNTS reported in 2018.The event exp Pnvw Today In B2B: NeweggBusiness Adds Payment Terms; Deutsche Expands Cash Management Business
NEC Corporation of America, a provider and integrator of IT, communications, networking, retail and biometric solutions, announced Tuesday Jan. 10 it will be the new exclusive point-of-sale POS provider to 8,600 7-Eleven stores around the United States and Canada.In a press release, NEC said it will deliver the TWINPOS G5100 POS that features a stylish customer display to run promotions and share information with customers. The idea is to offer customers a personalized shopping experience, NEC said in the press release. We wanted to reach tech-savvy
stanley becher customers with a POS system that would streamline operations and improve customer engagement, said Raj Kapoor, CIO and SVP聽at 7-Eleven, in the press release. Providing an engaging digital in-store experience is something we are investing in for the long term, and NEC has the best POS hardware and software to take us there. NEC said that, as
stanley mugs part of the deal, it will offer full-service desk and maintenance support for the next five years. The company contends that having a fully integrated develop
stanley cup ment and support service will help 7-Eleven provide an engaging customer experience and, at the same time, lower the cost of its point-of-sale terminals. It is exciting to see our longstanding collaboration with 7-Eleven benefit stores in the U.S., said Shin Takahashi, CEO聽at NEC Corporation of America, in the same press release. Our retail POS systems bring together the best of NEC technology, reliability and durability to support
