Overview:
An earlier Singles’ Day start (Oct 9 vs. Oct 14 last year) and earlier flagship launches drove a solid YoY lift, with cumulative sales up 3% YoY during the core Weeks 43–45 period. National subsidies had limited impact as access has been increasingly restricted since June and remained available only in a handful of provinces, while platforms also quietly reduced their own subsidy levels. For more details, pls download the report.