Though considerably smaller than Singles’ Day, last week’s Double 12 shopping festival offers insights into new retail in China.
Slowing retail growth and competition from other shopping festivals took toll on China’s Singles’ Day.
Five years ago, it took Cainiao 9 days to deliver the first 100 million Singles’ Day packages.
This year’s Singles’ Day was a mix of milestones and setbacks.
New technology, markets hold promise but gloomy economy and increased regulatory control pose threats.
Southeast Asia is becoming a fertile ground for China’s tech proxy wars.
Consumers from Guangdong, Beijing, Jiangsu, Sichuan, and Shandong spent the most within the first hour of Flash Deals.
The company will launch mini space station “Candy Tin” and satellite “Tmall International” to support the 2018 Singles’ Day.