Impressive 14% Growth in Chinese E-commerce Sales during 618 Shopping Festival

Sunday, 23 June 2024, 02:00
Chinese e-commerce giants Alibaba and JD.com experienced a significant increase in Gross Merchandise Volume (GMV) during the midyear shopping event, despite challenges such as declining profits due to intense price competition. The report sheds light on the contrasting performance of the e-commerce firms and their merchants during the festival, highlighting the impact of the platform price war on the industry's dynamics.
South China Morning Post
Impressive 14% Growth in Chinese E-commerce Sales during 618 Shopping Festival

Chinese E-commerce Sales Surge

Chinese e-commerce giants Alibaba and JD.com saw a remarkable increase in sales during the 618 shopping festival.

GMV Growth and Platform Price War

GMV rose for the firms, while merchants faced declining profits due to intense platform price competition.

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