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China’s Singles’ Day stumbles as frugal shoppers shrink the world’s biggest sale
China's annual Double 11 shopping festival, the world's largest retail event, recorded slower sales growth this year as consumers tightened spending in response to a weakening economy. According to research firm Syntun, total sales across all platforms reached 1.695 trillion yuan (approximately $238 billion), a 14.2% year-over-year increase. This marks a significant deceleration from the 26.6% growth seen in 2024.
The festival, also known as Singles' Day, far surpasses U.S. events like Black Friday in scale. However, as economic growth has slowed, platforms have extended promotional periods and stopped reporting headline gross merchandise volume. Analysts noted a shift toward more rational purchasing, with consumers exhibiting a "tiered system based on needs."
Jacob Cooke, CEO of WPIC Marketing + Technologies, estimated overall sales growth in the "high-single digits to low-double digits," a slowdown from 2024. Despite the broader trend, more than ten flagship online stores in categories from fashion to health saw orders exceed expectations by at least 30%. "That’s really rare for us," Cooke noted.
E-commerce giants leveraged artificial intelligence to boost efficiency. JD.com reported record transaction value with order volume up nearly 60% and user growth over 40%. The platform started promotions earlier this year, on October 9. Alibaba extended its campaign through November 14. Instant retail sales across JD.com, Alibaba, and TikTok Shop surged 138.4% to 67 billion yuan, while community group-buying sales fell 35.3%.
Product category performance highlighted shifting consumption patterns. Home appliances led with 266.8 billion yuan in sales (16.5% of the total), followed by mobile phones/digital products and apparel. The mother and baby category underperformed, while pet products met expectations. Syntun's report indicated a growing consumer focus on health, convenience, and brands that align with personal values.
The tempered growth underscores the challenges facing China's consumer economy, prompting Beijing to signal increased support for consumption, though it has preferred targeted subsidies over direct cash handouts.
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