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Frustrated by high return rates and dwindling profits, small merchants are questioning the long-term viability of discount-driven shopping festivals. Some are even opting out and returning to more traditional business models. By Li Xin and Ye Zhanhang Every June since 2019, Cao Liang prepped his small stationery shop for the “618” festival — China’s second largest online shopping event and a major driver of annual sales. This year, he’s sitting it out. Despite sales shrinking by 60% and fewer customers visiting his online shop in recent months, Cao knows it’s a high-stakes gamble. But he’s betting on a new strategy to stay afloat. “I have shifted my focus to the Western market, pursuing quality, and sustainable growth,” the 35-year-old from the southern tech hub of Shenzhen tells Sixth Tone. For years, such festivals have been synonymous with booming sales, rock-bottom discounts, and promises of increased visibility and traffic. Now, a growing number of small merchant
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