E-tailers adopt pragmatic approach ahead of '618'

Major Chinese e-commerce platforms are offering steep discounts and shopping subsidies as well as simplifying promotional methods by canceling presale campaigns during this year's extended June 18 (known as "618") online shopping carnival, with direct price cuts being a preferred strategy.

Industry experts said Chinese consumers have become more rational and prudent about potential purchases. So online retailers are taking a more pragmatic and simple approach this time, with a key focus on low-priced products and the use of livestreaming for product promotions, so as to attract price-conscious customers and bolster sales.

Data from Tmall, Chinese tech heavyweight Alibaba Group's business-to-customer platform, show that the sales of 59 brands surpassed 100 million yuan ($13.8 million) within the first four hours of the midyear promotional event, which kicked off at 8 pm on Monday.