Singles Day Sales Show Slower Growth Amid China's Economic Challenges

The world's largest shopping festival, Singles Day, faces declining consumer enthusiasm as economic pressures weigh on spending habits.

Singles Day, originally a one-day event on November 11, has evolved into a weeks-long shopping festival, with this year's event starting on October 14.
Despite government subsidies and extended promotions, growth in Singles Day sales has slowed, reflecting broader economic challenges in China.
Major e-commerce platforms like Alibaba and JD.com have stopped disclosing detailed sales figures, highlighting a shift in focus from gross merchandise value to profitability.
Domestic consumer interest has waned due to economic pressures, leading e-commerce platforms to explore international markets and offer global free shipping to boost sales.
Emerging trends include the use of AI tools for customer service and marketing, as well as a focus on experiential and niche products like sportswear and collectibles.