Chinese Consumers Add to Record-Breaking U.S. Holiday Haul
Dec. 7, 2015
Chinese e-commerce shoppers, whose online spending on China Singles Day dwarfs that of any other day in any other country, are contributing more to record Cyber Monday spending as well, according to Alipay, the payments unit of e-commerce giant Alibaba. The company said on Thursday that China-based consumers shopping U.S. brands online during the first two weeks of the holiday season rose 7 percent from last year.
Millennials are behind the Chinese cross-border holiday push, according to Alipay. A third of Chinese online shoppers looking to foreign Websites this holiday season were born after 1990—three times as many as last year.
“Chinese consumers are continuously seeking high quality U.S. products and Western merchandise that they can’t find in China,” said Jingming Li, president of Alipay U.S. “With better logistics and localized payment options now available to make cross-border purchases, we expect this tremendous growth of Chinese consumers to continue throughout the holiday season, particularly as U.S. e-commerce retailers provide more discounts and promotions.”