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Cooking Culinary Adventure: inspired by Halifax's Seaport Market | SaltWire #cooking #cookingshortsSHANGHAI - E-commerce giant Alibaba Group said it will be offering huge discounts as it gears up for its annual Singles Day shopping extravaganza - an indication that Chinese consumer confidence remains at a low ebb.
Alibaba also said that this year its Tmall marketplace for established brands and its Taobao site for smaller retailers will offer a 15% price reduction for some products in addition to the discount coupons usually offered. China has experienced much slower-than-expected economic growth following the lifting of COVID-19 curbs late last year and job insecurity for many Chinese has thrust the country's online platforms into a"value-for-money battle".
Alibaba did not disclose how much in subsidies and coupons it plans to offer in total this year but added that Taobao and Tmall had committed an"unprecedented" amount of investment.
France Dernières Nouvelles, France Actualités
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