While economic growth was down for the month year-over-year, China's economy still grew by 11% in October. During the period, cosmetics sales totaled 18.1 billion yuan, a gain 10.6% year-over-year, according to the National Bureau of Statistics of China.
Further reading: What the Future Holds: China Cosmetics Market 2015
Cosmetics sales for January to October rose 9.2% year-over-year to 165.1 billion yuan. November figures are certain to be boosted by the massive success of 11/11's Singles Day retail festival, which generated $14.3 billion in sales.
Previously: What the Future Holds: China Cosmetics Market 2015
Of those results, Alibaba Group CEO Daniel Zhang said, “This day demonstrates the power of domestic China consumption, and the Chinese consumer’s strong demand for international products. It also showcases how Alibaba uses big data, cloud computing and mobile innovations to create the best shopping experience for buyers and sellers.”
