Workers sort packages for delivery at a JD.com warehouse in Beijing during the Singles’ Day shopping festival in China on Nov. 11, 2024. Wang Zhao/AFP via Getty Images
China’s biggest shopping festival, Singles’ Day (Nov. 11), which has had promotions running for more than a month, had slower growth than last year, as consumers seek bargains amid China’s sluggish economy.
Analysts said that it points to Chinese consumers’ weak confidence in future income and underlying weak momentum for China’s economic growth.
