Apple’s Performance Fuels Sales Growth During China’s Singles Day Shopping Festival
Apple significantly contributed to sales growth during China’s Singles Day shopping festival, a month-long promotional period culminating on November 11th. According to data compiled by Counterpoint Research, the iPhone series captured 26% of overall smartphone sales during this timeframe.
Counterpoint’s analysis indicates that excluding iPhone 17 series sales would have resulted in a 5% year-over-year decline for the Singles Day festival. Conversely, overall transaction volumes during the festival demonstrated growth. Data from Syntun revealed that the total gross merchandise value (GMV) across various platforms reached 1.70 trillion CNY (approximately $240 billion USD or €208 billion EUR), surpassing the 1.44 trillion CNY recorded in the preceding year.
Despite the overall growth, the festival faced headwinds. Declining consumer sentiment, influenced by ongoing concerns related to the property market and income security among Chinese consumers, posed a challenge to sales performance.
Xiaomi secured the second-largest share of smartphone sales, accounting for 17% of the market. This performance was attributed to the earlier launch of the Xiaomi 17 series. Huawei’s market share experienced a decline, falling from 17% in the previous year to 13% during the current Singles Day period. The company’s Mate 80 series was launched subsequent to the promotional period, preventing its inclusion in the festival’s sales data.
