Up 2.1%? Inflation adjusted?
Right now in China young people are struggling to make ends meet. For that reason there is a widespread movement to be ads frugal as possible - from clothing to food.
Young people are buying $1 meals or buying even less expensive “mystery boxes” of left over food. They are not shopping for stylish & expensive clothes, rather buying “grandma” outfits and pajamas as daily wear.
iPhones are stylish and not cheap, and do not fit into the current frugality movement.
Why Are Chinese People Frantically Rushing for McDonald’s $1 Burgers?
https://www.youtube.com/watch?v=NV8Y36JU7Eg