Singles Day fails to spark love from China’s weary consumers
Jacob Cooke, chief executive of WPIC Marketing + Technologies, who is based in Beijing, said the result showed that Alibaba had “clearly shifted” from celebrating excessive consumption. “Part of that is the economic headwinds, but also the consumer market has matured and the days of 30 per cent growth . . . are far behind us,” Cooke said, adding […]
Alibaba targets bargain-hunting shoppers
This article originally ran on Financial Times on March 20, 2022. Chinese ecommerce group’s Taobao Deals app is aimed at the estimated 930mn consumers in smaller and less affluent cities. In the northern industrial town of Baoding, toilet paper rolls off Jinye’s industrial machinery, ready to be sent direct from the factory floor to bathrooms […]