China's Singles' Day sales growth slowed to 2%, indicating reduced consumer spending amid economic struggles.

China's Singles' Day shopping festival, once a key indicator of consumer confidence, has seen a decline due to the country's economic struggles, including a real estate crisis and deflation. Despite expanding to other platforms, sales growth slowed to just 2%, reflecting reduced consumer spending on big-ticket items. E-commerce giants like Alibaba are now seeking growth in overseas markets.

4 months ago
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