Alibaba saw record gross merchandise volume at this year’s 11.11, but the growth rate was slower than in the past. This may indicate that the festival has become so big that the growth rates will begin to decline. In addition, this year’s 11.11 was the first after the government’s crackdown on tech companies, and the festival is now up against more competition from the number of livestreaming and social-media platforms (such as Kuaishou, Douyin and Pinduoduo) that offer heavy discounts on products all year long.
Read more about this year’s 11.11, in addition to other retail insights, tech news and innovative social-media trends and campaigns, in this week’s Retail & Tech newsletter. Read the issue here