China’s Singles Day shopping season generated 1.78 trillion yuan in sales, up 4.8% but sharply slower than last year, as weak consumer confidence hit demand.

A logistics worker in Lianyungang, in China’s Jiangsu province, was photographed sorting parcels as order volumes surged during the Singles Day shopping rush—an image that captures the scale of one of the country’s most important e-commerce events.

This year’s Singles Day sales season wrapped up on Wednesday after running for roughly a month, underscoring how far the festival has drifted from its origins as a one-day promotion on Nov. 11. According to figures published Thursday by data provider Syntun, shoppers spent 1.78 trillion yuan over the campaign, equivalent to about $267 billion. That total represents a 4.8% increase from the same period a year earlier.

The growth, however, marks a noticeable slowdown. A year ago, sales for the festival rose 14.2%, making the latest expansion far more subdued even as platforms extended the promotional window and layered on new ways to entice customers.

The softer pace reflects a broader cooling in household confidence across China. Consumers have been more cautious, and spending has been constrained by a prolonged downturn in the property market, uncertainty about future income, and persistent concerns over job stability. Those pressures have weighed on willingness to buy discretionary goods—even during the country’s marquee online discount event.

As the macro backdrop has become more challenging, Singles Day has also changed in character. It is no longer a single, concentrated burst of spending but a drawn-out contest among the major online marketplaces. Companies now compete by rolling out increasingly aggressive incentives, including direct subsidies and deeper price cuts. Livestream shopping—where hosts sell products in real time—remains a central tactic to convert browsing into purchases.

Platforms are also leaning more heavily on technology to keep customers engaged throughout the extended sales period. Retailers have introduced artificial intelligence-driven shopping features, such as chatbots designed to answer questions and guide consumers toward products, in an effort to improve conversion rates and reduce friction in the buying process.

The result is a Singles Day season that is larger in duration and marketing intensity than ever, but facing a more cautious consumer and delivering slower growth than in recent years.

Why it matters

Singles Day is a key barometer for Chinese consumer demand, affecting retailers, logistics firms, and global brands that rely on the country’s online marketplace. Slower growth this year signals that discounts and longer promotions may not fully offset weakening sentiment tied to housing and job concerns. Watch for whether platforms further increase subsidies and AI-driven tools—and whether any improvement in household confidence translates into stronger spending in coming quarters.