China’s Singles’ Day shopping festival is one of the biggest online sales events in the world. This year, many people in China did not buy much, even though shops offered large discounts. Early numbers show that sales were almost the same as last year, not higher as companies wanted.

The main reason for lower spending is that many shoppers are worried about their money and jobs. There are many sales during the year, so Singles’ Day feels less special. Also, China’s economy is growing slowly and people are spending more carefully because of concerns about their incomes and the housing market.

Because of this, discounts on Singles’ Day did not make people spend more. Companies are trying new ideas, like using artificial intelligence (AI) to help customers shop, but most shoppers now choose only important things, not extras. Early results suggest that just giving discounts is not enough to make people buy more during this festival.