Amid an economic slowdown, consumers in China are scouring the internet for discounts and spending cautiously for this year’s Singles Day shopping event, which falls on Saturday, driving intense competition among large online retailers.
E-commerce giants JD.com and Alibaba, which have rolled out flashy artificial-intelligence features, described as being able to promptly generate product images, are advertising through livestreaming — as well as offering mass discounts across various product categories and coupons to entice shoppers.
But such efforts may see minimal payoff. Shoppers are increasingly seeking value, looking for cheaper brands amid an overall mood of restraint.