Li Jiaqi – pressnews

[ad_1] Look no further than China's biggest livestreamer for a snapshot of the country's flagging consumption outlook. Li Jiaqi, known as ‘Lipstick King' for his prowess in selling cosmetics, recorded sales of 9.5 billion yuan ($1.3 billion) on Oct. 24, the first day of the annual Singles' Day shopping festival that ended on Saturday, according to a Southern Metropolis Daily report, which didn't say where it got the information. That's down from last year's first-day tally of 21.5 billion yuan, it said. Separately, Caixin said Li's sales of beauty products fell 38% during the first day of the festival. His share of total sales during the consumer bonanza shrank to about a quarter this year from one-third last year, according to a Securities Daily report. The weaker performance from one...

[ad_1] When Alibaba kicks off its Singles Day extravaganza, it will for the first time in years, not be headlined by its two mega sales stars. When Alibaba kicks off its Singles Day extravaganza on Monday, it will for the first time in years not be headlined by its two mega sales stars, casting a pall over China's biggest shopping event and leaving brands guessing how well they will do. The event, which the e-commerce giant has built up from a one day Nov. 11 sale to a nearly two-week festival, will begin with seven days of pre-sales to allow shoppers on its Taobao and Tmall marketplaces to place deposits to secure goods later at a discounted price. In recent years, pre-sales were headlined by Li Jiaqi and Viya, known respectively as China's livestreaming sales king and queen who...

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Top Chinese Livestreamer Losing Steam Shows Consumers’ Fragility

China’s biggest shopping event: Setback for Alibaba as Singles Day left without superhosts