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Taobao Instant Commerce Launches RMB50B Subsidy w/ Orders for 589 Retail Brands Surging 1x+ on 1st Day of Launch
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Taobao Instant Commerce initiated a subsidy plan with a scale of RMB50 billion. On Wednesday (2nd), the first day of the commencement of the subsidy plan, Taobao Instant Commerce's orders recorded significant growth, with 589 retail brands experiencing more than a 100% increase in orders compared to that on 2 May (i.e. the full launch of Taobao Instant Commerce business), according to Chinese media. Of which, orders for prepared foods and alcoholic drinks & dairy beverage doubled. Also, orders for Nongfu Spring/ Lenovo/ Philips/ Yunnan Baiyao soared by 504%/ 467%/ 350%/ 303%, etc.. AASTOCKS Financial News Website: www.aastocks.com |
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