Meituan Shangou logs Singles' Day surge

Meituan Shangou said its GMV and user activity reached record levels from October 31 to November 11, as nearly 400 product categories, ranging from smartphones to cosmetics, posted YoY sales above 100%. The surge lifted per-capita spending by nearly 30%, while more than 800 brands, including Apple, Huawei, and Xiaomi, reported triple-digit YoY growth.