Traditionally, 11.11, alongside the mid-year 6.18 shopping festival, has served as a key barometer for consumer confidence, which has become a focal point of China’s efforts to boost its slowing economy. But in the absence of official figures, analysts and media are left to interpret third-party data. E-commerce data firm Syntun, a popular reference point, … Read more
Jack Ma, founder of Alibaba Group Holding, on Friday visited the company’s campus in Hangzhou, capital of eastern Zhejiang province, in a show of support for the e-commerce empire he created a quarter of a century ago, according to employees. Ma’s visit was his first known trip back to to his hometown since March 2023, … Read more
Douyin, the Chinese version of TikTok with domestic e-commerce operations, has been slammed for charging exorbitant promotion fees amid insufficient sales by the head of Chinese budget retailer Miniso Group, which runs multiple stores on the ByteDance-owned platform. Miniso founder and chief executive Ye Guofu, 47, levelled his criticism of Douyin via his WeChat post … Read more
China has created a new specialist committee on artificial intelligence (AI), as part of the country’s vision for the development and governance of the technology, amid simmering tensions between Beijing and Washington. The AI Experts Committee will help spearhead efforts to promote the country’s perspective on how the fast-growing technology should be governed, according to … Read more
Amazon.com is inviting select Chinese merchants to join its newly launched “crazy low prices” platform, Haul, as the leading US online shopping platform competes with Temu and Shein to woo budget-conscious consumers. Recruitment is by invitation only for now, but the Chinese vendor community already appears excited about this new channel. A factory owner surnamed … Read more
On the bustling streets of Bangkok, TikTok Shop’s Singles’ Day shopping campaign is hard to miss, as large LED screens flash promotions in endless loops. Promotions have been infiltrating people’s lives in other ways, as well. On the ride-hailing app Grab, TikTok Shop’s Double 11 logo appears prominently on the map interface. A promotional blitz … Read more
Alibaba Group Holding’s New York-listed stock gained 5 per cent in pre-market trading after it posted a surprise increase in its September quarter net profit, as strong growth in its cloud computing and offshore e-commerce businesses offset the fall in domestic retail sales caused by China’s consumption slump. Net income surged 58 per cent to … Read more
Alibaba Group Holding and JD.com wrapped up their respective Singles’ Day promotions this year, with both Chinese e-commerce giants claiming strong results that signify a rebound in domestic consumer spending during the world’s largest annual shopping festival. Taobao and Tmall Group (TTG), Alibaba’s domestic e-commerce business unit, on Tuesday said its Singles’ Day campaign had … Read more
The Singapore High Court on Monday also allowed another creditor, 21st Century Healthcare, to replace KCP as the claimant. According to court documents, 21st Century Healthcare is owed about S$954,000 by Qoo10. Other creditors include SCI Ecommerce, Shenzhen Lanmey Industries and Intrepid E-commerce services. “There is an urgent need to empower a liquidator to conduct … Read more
Alibaba Group Holding says this year’s Singles’ Day campaign has seen strong demand in four product categories – home appliances, consumer electronics, beauty and apparel – in a sign of consumer-spending recovery on the mainland, as the world’s largest online shopping festival drew to a close on Monday. Taobao and Tmall Group (TTG), Alibaba’s domestic … Read more
