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Reuters

China’s JD.com posts slowest growth ever in ‘618’ shopping event

BEIJING (Reuters) -Total sales by China’s e-commerce giant JD.com rose 10.3% over the 18 days to Sunday during the first major shopping festival since a recent COVID-19 outbreak, the company said, sharply down from the 2021 event’s growth of 27.7%. Chinese shoppers purchased 379.3 billion yuan ($56.48 billion) of goods on JD’s platform over the “618” period, it said on its official WeChat account. The 618 event is China’s second largest shopping festival after Singles Day in November, and was initiated in 2004 to mark JD.com’s founding anniversary.