State media outlets, including Renmin Daily and Xinhua News Agency, have backed an anti-consumerism sentiment that has been growing in China.
Thirteen brands surpassed US$150 million in sales by 12:35 am on Singles Day, according to Alibaba. Also, see Katy Perry's "appearance" and a new fleet of autonomous delivery robot vehicles.
While pandemic spending boosted topline by 30% for the second quarter, operating profit took a 33% knock due to expenses related to Ant Group.
Cartier's first-ever livestream attracts 770,000 viewers, and imported products including coffee beans and camel milk see high demand as the festival officially kicks off.
Investment signals push by technology behemoth to grow omnichannel retail business.
The Trump administration is reportedly considering a ban on Chinese payment systems Alipay and WeChat Pay, which would impact not only those companies but many other brands and retailers as well.
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