Reported 8 months ago
As China's annual '618' shopping festival kicks off, major ecommerce platforms like Alibaba and JD.com are offering steep discounts, live celebrity endorsements, and hassle-free returns to rejuvenate consumer spending in the post-Covid era. The intense competition, with notable innovations like digital avatars and livestreaming, aims to boost growth amidst economic challenges. The festival, closely watched for consumer behavior insights, may indicate a shift in Chinese spending habits and its impact on stock performance for companies like Alibaba and JD.com.
Source: YAHOO