Alibaba, JD.com Locked in Brutal Price War This Singles' Day Amid Weak Consumer Spending in China

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Alibaba, JD.com Locked in Brutal Price War This Singles' Day Amid Weak Consumer Spending in China

South China Morning Post2023-10-17

Alibaba Group Holding's Taobao & Tmall Group is defending its dominance in China's e-commerce market by offering consumers massive rebates and discounts during this year's Singles' Day shopping season...

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666huat666
·2023-10-17
From SCMP pro baba and anti jd
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Danielng
·2023-10-17
Power. A good initiative can also be spun into negative news. Western media are really something, national treasures.
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Themed \"real cheap\", the event will see more than 800 million products go on sale until November 13, the company said.Chinese e-commerce giants have pivoted to a low-price strategy to cater to consumers who are reluctant to loosen their purse strings amid an economic slowdown and deflationary pressure.The country's consumer prices remained flat from a year ago in September, after rising just 0.1 per cent year on year in August.The Singles' Day shopping festival, created by Alibaba in 2009, is the world's largest online retail extravaganza. The annual bargain-hunting ritual, originally a 24-hour event on November 11, has in recent years stretched into a weeks-long event lasting from late October to mid-November, joined by new players such as Kuaishou Technology and discount retailer PDD, which owns Pinduoduo.Alibaba founder Jack Ma in May met informally with the company's e-commerce executives, advising them to refocus on Taobao and consumers to survive brutal competition and adapt to China's new economic reality.JD.com has also doubled down on its \"true low price\" strategy, launching 10 billion yuan worth of price subsidies and free shipping for a range of products priced at only 9.9 yuan, the company said.The Beijing-based operator, founded by Richard Liu Qiangdong, is struggling to fend off intensifying competition from Alibaba and PDD. JD.com's retail revenue grew the least among the three rivals in the quarter ending June 30, stoking concerns about rising operating expenses and falling profit margins.It remains to be seen whether Chinese consumers will be enticed by the deep price cuts. Lucy Liu, a 27-year-old Shanghai resident, said she was not entirely sure what she would buy during the coming Singles' Day.\"I already bought things I need in my daily life. Maybe I'll stock up on some household goods, like tissue paper,\" she said.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[{"id":231479477866544,"gmtCreate":1697522711765,"gmtModify":1697522716554,"author":{"id":"3559102890148495","authorId":"3559102890148495","name":"666huat666","avatar":"https://community-static.tradeup.com/news/aaee715fb6027f469a083e0084bbd67c","vip":1,"crmLevel":6,"crmLevelSwitch":1},"htmlText":"From SCMP pro baba and anti jd","listText":"From SCMP pro baba and anti jd","text":"From SCMP pro baba and anti jd","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/231479477866544","repostId":2376146049,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":231474962342176,"gmtCreate":1697521652691,"gmtModify":1697521656735,"author":{"id":"3567242381966976","authorId":"3567242381966976","name":"Danielng","avatar":"https://community-static.tradeup.com/news/5cd5b4aefd2b0994474d489d4d1c2904","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":7,"crmLevelSwitch":1},"htmlText":"Power. A good initiative can also be spun into negative news. Western media are really something, national treasures.&nbsp;","listText":"Power. A good initiative can also be spun into negative news. Western media are really something, national treasures.&nbsp;","text":"Power. A good initiative can also be spun into negative news. Western media are really something, national treasures.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/231474962342176","repostId":2376146049,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":7,"commentSize":0,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}