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Alibaba’s Grip on Singles’ Day, and China E-commerce Overall, Loosens – NewsBreak

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Click here to read the full article. SHANGHAI — Singles’ Day, the world’s largest shopping festival, may be one of Alibaba ’s greatest creations but 13 years on, it’s no longer the sole domain of the Chinese tech giant. For much of the last decade, the sale could be described as a two-horse race between Alibaba and JD.com, the second largest e-commerce player in China. Then Pinduoduo burst onto the scene in 2015, and a fierce three-way battle around the lower-tier cities ensued. This year, Douyin, the domestic Chinese version of TikTok, and Kuaishou, another livestreaming platform focused on the…

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