Alibaba's Taobao, Tmall Cancel Dec 12 Shopping Festival, to Host Substitute Event

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Alibaba's Taobao, Tmall Cancel Dec 12 Shopping Festival, to Host Substitute Event

Reuters2023-11-24

Alibaba's online shopping platforms Taobao and Tmall cancelled its annual Dec. 12 shopping festival and will instead host another shopping festival called 'year-end good price' in December, according to notices on the platforms' websites on Friday.

The dates of the new festival were not included in the notice, which was posted in a help section for platform merchants, and Alibaba did not immediately respond to a request for comment on the change.

The 12.12 shopping festival, held annually on Dec. 12 since 2012, was the less-celebrated sister of November's Singles Day sales festival, which traditionally fell on Nov. 11 but has in recent years ballooned into a multi-week event beginning in late October.

Stocks in the Hong Kong market slid 1.36% on Friday.

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