U.S. companies might not get to reap the benefits of the world's biggest shopping event thanks to the ongoing trade war with China, Bloomberg reports.
Singles' Day — a concept celebrating consumers who are, as the name suggests, single — was created a decade ago by Chinese online commerce giant Alibaba in a play off Valentine's day, and has grown to become the world's biggest shopping extravaganza, outpacing Black Friday and Cyber Monday combined. But a survey suggests more than three-quarters of China's shoppers are considering boycotting U.S. goods during the event in a show of patriotism as Washington and Beijing remain in a deadlock over bilateral trade. In the survey, "national loyalty" was deemed more important than quality and price, Bloomberg reports.
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