Subdued Sales During China's Singles' Day Festival

• Subdued sales during China's Singles' Day online shopping festival indicate a weak appetite for spending.
• A 32-year-old Shanghai resident made a high-value purchase of a 12,000-yuan iPhone 18 Pro Max.
• Consumers reported having less spare cash compared to previous years.
• The festival saw a shift towards more AI-driven shopping experiences.
• Coupon usage decreased, and consumers focused on fewer, higher-value purchases.