China's 'Singles Day' shopping bonanza loses its luster

China's annual "Singles Day" sales bonanza wrapped up at midnight on Saturday. Conceived by tech giant Alibaba, "Singles Day" in this year is extended well over a week than in 2009 when it was launched.
Reports show that sales for Singles Day in 2022 reached 1.1 trillion yuan, but this year, over 77 percent of people surveyed said that they did not plan to spend more than usual during the sales event. A Beijing resident said that discounts for November 11th are not huge, the prices are not that different compared to other days.