Skip to main content

Agenda-setting intelligence, analysis and advice for the global fashion community.

Explainer: Why Consumer Sentiment Remains Subdued in China

A real estate slump, high youth unemployment and lingering anxiety over Covid-19 are some of the factors behind the tepid results from this month’s 618 shopping festival.

Workers sort parcels at an express delivery center in Nantong, Jiangsu province, China. After the ''618'' online shopping Festival, the volume of Haian Express parcels increased significantly. — Workers sort parcels at an express delivery centre in Nantong, Jiangsu province, China during the 618 shopping festival in June 2023. (Getty Images)

By

Tiffany Ap

20 June 2023

BoF PROFESSIONAL

Spending on China’s major e-commerce platforms for 618, one of the key shopping festivals on the retail calendar, rose 5.4 percent year over year, according to Syntun, a third-party retail data provider collating estimated GMV from JD.com, Alibaba’s Tmall and Pinduoduo. The figure represents the slowest growth rate in three years.

Please sign in to ensure you can read our agenda-setting intelligence, analysis and advice. Or get in touch at support@businessoffashion.com if you experience difficulties.

About the author

Tiffany Ap is Senior Correspondent at The Business of Fashion. She is based in New York and covers marketing and the critical China market.

In This Article

Topics

Organisations

Location

China

© 2026 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from China

On-the-ground intelligence and insights from the world’s largest fashion market.

This Week: What Moncler, Estée Lauder Have to Say About China

This Week: What Moncler, Estée Lauder Have to Say About China

An emerging narrative this earnings season is that China’s troubled fashion market is stabilising. This week’s results will put that theory to the test.

Trump Extends China Truce for 90 Days, Averting Tariff Hike

Trump Extends China Truce for 90 Days, Averting Tariff Hike

Had the truce not been extended through Nov. 10, US tariffs on Chinese goods would have jumped to at least 54% starting on August 12.

Estée Lauder Companies, L’Oréal Suffer as China Duty-Free Spend Continues to Fall

Estée Lauder Companies, L’Oréal Suffer as China Duty-Free Spend Continues to Fall

The once-promising Chinese travel retail market is showing little signs of recovery, causing global beauty giants to reevaluate their strategies and reduce promotions.

Why China’s Gold Jewellers Are the Envy of Global Brands

Why China’s Gold Jewellers Are the Envy of Global Brands

With soaring profits and rapidly expanding store networks, ‘heritage-gold’ jewellery brands like Laopu Gold and Lao Feng Xiang are red-hot in China’s otherwise tepid luxury market.

Latest News & Analysis

Unrivalled, world class journalism across fashion, luxury and beauty industries.

Luxury Stocks Face Most Bearish Sentiment in Years, UBS Says

War in the Middle East, the luxury industry’s fastest-growing market, threatens to delay a long-expected rebound in demand.

What Stops Beauty Shoppers From Buying More

Beauty brands must rethink upselling with smarter value plays, from curated bundles to jumbo sizes and subscriptions, to keep their customers from switching to the competition.

Underdays and Foundrae Are Hiring on BoF Careers

Check out this week’s new partner and job openings on BoF Careers, the global marketplace for fashion and beauty talent.

Can Lake Translate Success in Sleepwear Outside the Bedroom?

The Savannah, Ga.-based pajama brand has developed a devoted following for its super-soft pyjamas. With their first daywear collection, they’re hoping that loyalty will apply in a much more competitive category

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

CONNECT WITH US ON

© 2026 The Business of Fashion. All rights reserved. For more information read our , , and .