Bytedance schools old order in new online moves

East Buy Holding

21/06/2022 04:08

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Yawen Chen
    HONG KONG, June 21 (Reuters Breakingviews) - E-commerce
sales growth is slowing at big players like Alibaba and JD.com.
TikTok’s parent, though, is benefitting from consumers spending
more on entertainment and education. The meteoric rise of an
online English-teaching venture hosted by its Douyin app is a
case in point.
       
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    CONTEXT NEWS
JD.com’s total sales rose by 10.3% during the so-called "618"
shopping festival, China’s second-largest shopping event by
sales that runs for the first 18 days of June, the company said
on June 19. That compares with the 27.7% growth JD reported last
year.

 (Editing by Antony Currie and Thomas Shum)
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