Chinese e-commerce vendors face a price war as sales growth slows and competition intensifies.
Chinese e-commerce vendors face a price war, struggling for survival as sales growth slows and competition intensifies. Once-thriving e-commerce platforms, known for shopping bonanzas and celebrities, are now bearing the brunt of a weakening economy. Extreme discounting, influencer-led sales campaigns, and generous return policies have enriched the sector, but are now hurting sellers who must abide by them. E-commerce operator Lu Zhenwang predicts that without changes, many sellers will not survive the next three years.
July 12, 2024
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