China's 'Black Friday' Sees Surprising Boost As Major E-commerce Platforms Report Robust Activity

China's Singles' Day shopping festival, the country's Black Friday, saw stronger-than-expected consumer spending. The activity showed a positive shift in an otherwise sluggish retail landscape. Starting earlier on October 14th and ending Monday, major e-commerce platforms highlighted increased consumer activity without disclosing specific sales values. Consulting firms noted robust category growth in pet care, outdoor gear, and blind box toys. China's October retail sales are projected to increase by 3.8% year-over-year, up from 3.2% growth in September.