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G Sachs: China Online Consumer Demand Remains Weak Ahead of Double 11; White Goods Down 40% in Sep, LAOPU GOLD Online Sales Slump 89%
AASTOCKS News·- Goldman Sachs reported that China's online consumer demand remained generally weak in September and 3Q26 ahead of Double 11, with most tracked categories experiencing year-on-year declines. - Pet food and healthcare products showed gradual improvements, rising 5% and 1% in September respectively, while sectors like white goods dropped 40% and LAOPU GOLD online sales slumped 89%. - Performance diverged across individual brands and categories, with certain domestic beauty and mass sportswear brands recording varying degrees of growth amid overall market softness.