Alibaba too is aware of the stakes, with founder Jack Ma advising a renewed focus on Taobao and its consumer base
‘s economic slowdown continues to tighten consumer spending, but this year’s Singles’ Day—one of the world’s biggest online shopping fests—is getting a price-conscious revamp.’s Taobao & Tmall and rival JD.com are both wheeling out aggressive low-price strategies, but is this enough to keep the shopping carts rolling?From October 12 to 23, Alibaba is giving away a whopping 1 billion yuan in cash coupons through its live-streaming platform, Taobao Live.
However, this new approach comes with its own set of challenges. JD.com, for example, is already feeling the heat with less-than-impressive retail revenue growth in the last quarter. to sustain in a fiercely competitive market. Gizmochina brings you the best of Chinese Tech from emerging smartphone companies, innovative startups, to crazy smart home products and revolutionary technologies.
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