This year’s Singles Day is the first in the country since Beijing lifted COVID restrictions at the end of 2022, and the last chance to see a hoped-for post-pandemic rebound in consumer spending. The 11.11 shopping festival is traditionally a barometer for consumer sentiment in China, and the last big shopping event of the year. But I think the fact that they haven’t publicly come out with any of these figures is perhaps a little bit telling,” Galvin Chia, an emerging markets strategist at NatWest, says. “In total numbers, if saying that they’re continuing to make record sales and transactions, then good for them.
