Singles Day, the prefab shopping holiday created by Alibaba in 2009, saw just 5% sales growth over 2021, experts polled by CNN estimated, compared to a 15.5% gain in 2021, as the inflation-fueled ecommerce slowdown and fresh COVID-19 lockdowns in China acted as a drag on results.
Guess is partnering with Alibaba Group to bring artificial intelligence to fashion and provide customers with a richer shopping experience combining online and offline elements. Here are some of the features of the FashionAI concept store and what it means for Guess.
Shanghai-based ecommerce marketplace Pinduoduo, China’s third-largest after Alibaba and JD.com, is seeking to raise up to $1 billion in a U.S. IPO on an exchange to be named later, less than three years after its founding, See how the company differentiates itself from other Chinese marketplaces.