China's retail sector faces challenges as the annual 618 mid-year e-commerce festival experiences its first sales drop in 8 years. This decline indicates a slow consumption recovery in the world's second-largest economy.
China’s annual 618 mid-year e-commerce festival saw sales drop for the first time in 8 years, according to retail data provider Syntun, signaling consumption recovery in the world’s second-biggest economy was still quite slow, per CNBC.
China's retail outlook dims after mid-year shopping festival flop - Reuters https://t.co/u9FO2ZXSjn
China's retail outlook dims after mid-year shopping festival flop https://t.co/kdEVMvqUR5 https://t.co/TJ82xcRaSb
China’s 618 online shopping event marks first-ever sales drop https://t.co/Qk0JVsnjnr via @FT
🇨🇳Retail looks bad in China. 618 sales flopped. Time to goose infrastructure and exports. This time isn't different. https://t.co/2kTlmPOLga