Douyin, JD.com, and Tmall ignite early 618 discount war as platforms chase China’s cautious shoppers · TechNode

China’s JD.com beats quarterly revenue estimates

The e-commerce firm reported total revenue of around $55 billion for the quarter ended March 31, up 15.8 per cent from a year earlier. Read more at straitstimes.com.

Douyin, JD.com, and Tmall ignite early 618 discount war as platforms chase China’s cautious shoppers · TechNode

China’s major e-commerce platforms, Alibaba, JD.com, and ByteDance’s Douyin, are preparing for the 618 shopping festival, a massive mid-year sales event initiated by JD in 2004. With weak consumer spending in China, the companies are already entering a fierce price war with early discounts and aggressive promotions.Why it matters: The early roll-out signals a race to secure consumer attention before wallet fatigue sets in, and highlights how Chi…