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As it gears up for its flagship shopping festival, the Chinese e-commerce giant is fighting a desperate battle to defend its market share. The world’s biggest shopping festival is back. And this year, it has returned even earlier than usual. The “Singles’ Day,” or “Double Eleven,” festival started out as a 24-hour sales extravaganza held on Nov. 11. But this year, China’s tech giants have already begun offering discounts a full month ahead of the big day. Alibaba, as well as its competitors JD.com and Pinduoduo, all launched their Singles’ Day sales periods on Monday — over a week earlier than last year. It’s a sign of the intense pressure the Chinese e-commerce platforms are facing, as they battle sluggish consumer demand and a growing threat from newer rivals such as Douyin, the Chinese version of TikTok. Singles’ Day is always a crucial period for China’s tech giants. It is by far the world’s largest shopping festival, with last year’s edition generating
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