Preliminary data for China’s biggest shopping event of the year shows that sales have slowed as consumers tighten their spending amid weak economic growth.
According to Chinese consumer research firm Syntun, this year’s Singles’ Day (Double 11) shopping festival recorded sales of 1.695 trillion yuan (about 238 billion USD) across all platforms, up 14.2% year-on-year but slower than the 26.6% growth seen in 2024.
Consumers have become “more rational and willing to pay for real value, reflecting a ‘needs-based stratification system’.”
November 11, also known as Singles’ Day, is China’s biggest annual shopping event, with total merchandise value far exceeding America’s Black Friday.
However, as China’s economic growth slows, companies have extended promotion periods and stopped reporting gross merchandise value (GMV) — a key industry metric for tracking sales over time.
Last month, China’s top leaders signaled they would step up measures to support consumption. Beijing is prioritizing subsidies for consumer purchases of targeted items such as electronics rather than giving out cash.
According to a Reuters poll, the country’s soon-to-be-released October retail sales are expected to grow 2.8% year-on-year, below the 3% growth in September.
Jacob Cooke, co-founder and CEO of WPIC Marketing + Technologies, which helps Western consumer brands sell online in China, estimates overall sales growth this year will fall in the range of “high single digits to low double digits” (i.e., 7–9% to 10–12%) compared with 2024.
However, Cooke said more than 10 top online stores selling products ranging from fashion to health recorded order volumes at least 30% above expectations.
“This is really rare for us,” he added. “We don’t want to underestimate or overestimate our internal figures.”
Boost from AI
During the sales period, e-commerce platforms received major support from integrating artificial intelligence into their supply chains.
Though it did not disclose specific figures, JD.com announced record transaction value for this Singles’ Day as of midnight Tuesday (11/11). The consumer electronics-focused platform said order volume rose nearly 60% and the number of users placing orders grew more than 40%.
The Chinese giant launched this year’s promotions on October 9, earlier than last year.
Meanwhile, Alibaba extended its shopping event to November 14, after starting promotions on October 15.
According to Syntun data, these two companies, along with TikTok Shop, generated 67 billion yuan from instant retail alone, marking a 138.4% year-on-year increase.
In contrast, the report showed that community group buying — where consumers form groups to purchase groceries in bulk — brought in 9 billion yuan, down 35.3% from a year earlier.
Xiaomi, the Chinese smartphone and consumer electronics giant, said that as of 11:59 p.m. Tuesday (11/11), it had sold 29 billion yuan worth of goods across online platforms and physical stores during Singles’ Day.
Last year, Xiaomi began its campaign a day earlier and recorded sales of 31.9 billion yuan.
Across all product categories, Syntun reported that home appliances ranked first with 16.5% of total sales (equivalent to 266.8 billion yuan), followed by mobile phones and digital products (14.6%) and apparel (14%).
Shifting consumption patterns
Jacob Cooke, co-founder and CEO of WPIC Marketing + Technologies, said Singles’ Day data is an important indicator of fourth-quarter spending trends, helping consumer brands determine how to position themselves for the next two quarters.
Trends during the sales period show that growth across categories may not be even.
According to Cooke, sales in the mother-and-baby category underperformed expectations, while pet-related products matched forecasts. Meanwhile, toys for older adults are “cooling down” after a surge in popularity last year, he added.
Syntun data shows the mother-and-baby category ranked ninth in sales, bringing in about 61.1 billion yuan, while pet food reached 9.4 billion yuan across four e-commerce platforms: Alibaba, JD.com, TikTok Shop, and Kuaishou.
Syntun’s report also shows that consumers are increasingly focused on health, convenience, and shopping from brands that reflect their personal values.
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