Worldview: Why China’s E-Commerce Giants Withheld Singles’ Day Results

🇨🇳 China’s e-commerce giants withhold Singles’ Day results. For the second year in a row, e-commerce major Alibaba did not disclose gross merchandising value (GMV), a measure of sales, during the Singles Day promotional period which concluded on Nov. 11. Competitor JD.com did not provide specific numbers either. While the fashion-to-electronics retailers did report year-over-year growth and record growth respectively, their opaqueness suggests that Chinese consumption remains…