On December 16th, GS Research reported that based on a recent online consumption survey of approximately 2,500 Chinese consumers, most respondents indicated that their financial situation is good and expect to increase their spending over the next 12 months. Among them, 63% shop several times a week, and about 49% shop between 6 to 10 times a month. The report states that the survey reflects an increase in consumer spending on e-commerce platforms during this year's Singles' Day Sales, attributing it to effective government subsidy measures boosting demand for home appliances. At the same time, consumers also indicated a greater willingness to spend more on travel. In terms of stock selection for Chinese e-commerce platforms, Citibank's preference order is JD.com, Alibaba, and PDD Holdings.
大行评级丨花旗：调查显示补贴对推动家电需求有效 消费者愿意在旅游方面花费更多
Major rating丨Citi: Survey shows subsidies effectively drive demand for home appliances. Consumers are willing to spend more on travel.
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