China's 618 Festival Sees First Sales Decline in 8 Years [Yahoo! Finance]
JD.com, Inc. - American Depositary Shares (JD)
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Source: Yahoo! Finance
JD.com created the shopping holiday in 2010, and the name and date of the festival align with the day the company launched: June 18, 1998. 618 festival was originally a way JD.com sought to compete against competitor Alibaba, which started another major Chinese shopping event—Singles' Day, also known as Double 11—in 2009. More from Sourcing Journal JD.com Expands Fleet of Air Freighters China's Manufacturing 'Overcapacity' Could Imperil Domestic Industry, AAM Warns Are Asia-to-Europe Container Prices Headed to $20,000? Since then, both Singles Day and 618 festival have grown astronomically, with shoppers planning purchases around the holidays in the same way other markets might plan around Amazon Prime Days Black Friday or Cyber Monday . Despite the two shopping events' beginnings with just two companies, all major Chinese e-commerce players participate in the unofficial holidays now. According to estimates from data analysis firm Syntun, which annually tracks 618 perform
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- 5/16/24 - Beat
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- 5/21/24 - Form 144
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