JD.com is offering 50% discounts on selected electronics and the opportunity for shoppers to purchase best-selling items for only 1 yuan (14 US cents.) They expect a “muted” sale period because of lackluster economic conditions and cautious spending sentiment.Īlibaba, which owns Taobao and, has announced it will offer more than 80 million products “at their lowest prices this year” during its sales period, which kicked off on October 24. “In general, pricing war has been the biggest competition moat across all platforms this year,” a group of Citi analysts led by Alicia Yap wrote in a research report last week, using a term that describes a company’s competitive advantages over rivals.

It regularly racks up more sales than Black Friday and Cyber Monday combined, and is seen as a bellwether of consumers’ willingness to spend.Ĭompanies have come up with catchy slogans to promote their sales, including Alibaba’s “Double 11, Low Price Everyday,” JD.com’s “Truly Cheap” and Pinduoduo’s “Truly Low Price Every Day.”

The Singles Day festival, also known as “Double 11,” was created by Alibaba in 2009 and has turned into a weeks-long shopping bonanza in China. China’s wobbly economy has affected the world’s largest annual shopping event, and companies have launched an aggressive price war to woo customers.

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