❓️ What it is: Singles Day is celebrated in China on Nov 11 every year. It actually got its name so that single people can buy themselves gifts, the opposite of Valentine’s Day. It’s one of the biggest shopping days because of its massive discounts.

📉 Still slow: In 2023, the total value growth actually slowed (2% vs 2.9% in 2022), amounting to $156.4 billion due to COVID and other festivals like 618.

There were also individual reports of companies that were released:

• 🏷️ 40-50% discounts are more common in general

• 📱 Apple saw a decline (4% YoY) with competition from Huawei and Xiaomi

• 🖥️ TMall got 13.7 million in sales and 800 million visitors

• 📦️ JD.com reported that 20,000 brands tripled their transaction volume

🏆️ Best sellers: Bain stated that buyers focused on necessities like toiletries, instant noodles, pet food compared to more expensive items like appliances and furniture.