Beijing: China’s biggest online shopping festival, Singles’ Day, has started weeks earlier than usual this year, as the country’s biggest retailers move to spark spending in a slowing economy.
Traditionally held on November 11, the event now spans several weeks, with major e-commerce platforms launching promotions in mid-October to capture early demand.
Major e-commerce platforms such as Alibaba’s Taobao and Tmall, JD.com, and Douyin have already rolled out banners, vouchers, and ‘11.11’ flash sales across their apps. The early start follows a subdued Golden Week holiday and comes as China faces multiple economic pressures, from youth unemployment and a deepening property downturn to rising local debt and an ongoing trade dispute with the United States.
The government has stepped in with a mix of fiscal incentives, including wage hikes, subsidies, and discounts on key goods, to revive consumer appetite. Yet, retail sales growth remains weaker than forecast, suggesting that households are still reluctant to spend amid uncertainty about jobs and income.
Alibaba announced the launch of its ‘11.11 Global Shopping Festival’ on October 15, marking the beginning of this year’s extended shopping season. The company said it is enhancing its e-commerce platforms with improved product recommendations to make shopping more seamless.
Singles’ Day, originally conceived by Alibaba in 2009 as an online sales promotion, has grown into the world’s largest shopping event- eclipsing Black Friday and Cyber Monday combined. It has also evolved from a one-day sale into a multi-week retail marathon, featuring aggressive discounts and live-streamed product showcases.
The pandemic years have reshaped spending habits, with households now prioritizing savings over splurges. Persistent deflationary pressures have further dampened sentiment.
Luxury brands, once buoyed by China’s affluent shoppers, are also feeling the pinch. Companies such as Louis Vuitton, Burberry, and Gucci have reported slower sales growth in the region.
