Asia
China’s Ecommerce Giants Splash Out to Jolt Wary Shoppers
- This year’s 618 event is ‘most cutthroat ever,’ analyst says
- Platforms invest in streaming, slash prices to woo shoppers
Workers sort parcels for the 618 Online Shopping Festival on an assembly line in Jiangsu province on June 18.
Photographer: CFOTO/Future Publishing/Getty Images
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China’s shoppers are getting wooed this week like never before.
The country’s biggest internet firms are pulling out all the stops during the annual “618” shopping festival, in a bid to shake off the industry’s post-Covid malaise and return to something like the rah-rah years before 2020. Alibaba Group Holding Ltd. is offering 50% off Lululemon apparel, while rivals like ByteDance Ltd. and PDD Holdings Inc. advertise steeper-than-ever discounts.