Singles' Day

Alibaba, navigating sea change, reorients business towards bread-and-butter e-commerce and AI, pares down overhaul

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By March 2023, Alibaba had lost three quarters of its value from the peak in October 2020, as the e-commerce giant, once seen as China’s answer to Amazon.com, faces questions on whether it can recapture its former glory while dealing with China’s economic slowdown, regulatory scrutiny and fierce competition from old and new rivals. The … Read more

Chinese e-commerce firms JD.com and Alibaba’s Taobao roll out ‘refund only’ policy to shoppers, heating up rivalry with budget retailer Pinduoduo

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Cutthroat competition in China’s vast e-commerce sector is poised to escalate, as leading shopping platforms JD.com and Alibaba Group Holding’s Taobao offer a “refund only” policy so consumers can keep the goods they had bought but complained about – matching an option that budget online retailer Pinduoduo has had in place since 2021. JD.com on … Read more