China’s June 18 online shopping festival, the second most important e-commerce event in the country after Singles’ Day in November, is set for less fanfare this year amid weak consumer spending and disruption to supply chains due to Covid-19 prevention measures.
In a break from tradition, major e-commerce platforms such as Alibaba Group Holding and JD.com have largely refrained from boasts about expected gross sales and stellar year-on-year comparisons. Instead the companies have focused promotional activity for this year’s event on the level of service they can provide to merchants.