After a lacklustre 2023, recovery may be on the horizon for established and independent lines alike.
A real estate slump, high youth unemployment and lingering anxiety over Covid-19 are some of the factors behind the tepid results from this month’s 618 shopping festival.
JD.Com, Tmall, Pinduoduo and others are competing fiercely in the country’s first major shopping festival after the pandemic.
The imminent breakup of Alibaba Group underscores the importance of having a diverse channel mix in China’s online fashion market but many brands are still over-reliant on two big platforms.
Disappointing sales were only part of the story, as brands increasingly used the world’s biggest online shopping festival as a marketing moment.