Digital red packets have been an easy way for China’s tech giants to grow user engagement with cash giveaways, but growing competition has some entrenched players cutting back this year. Photo: Shutterstock
Big Tech’s red packet war for Lunar New Year sees less cash given away as campaigns try users’ patience
- Promises of cash handouts in the form of digital lai see ahead of the holiday amounted to US$1.3 billion, US$250 million less than last year
- Some consumers are getting tired of competing to win just a few yuan each as increasing competition has made such campaigns less valuable to tech firms
Digital red packets have been an easy way for China’s tech giants to grow user engagement with cash giveaways, but growing competition has some entrenched players cutting back this year. Photo: Shutterstock
