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For China's e-commerce platforms, low prices are no longer enough

China's e-commerce industry is searching for ways beyond low prices to attract shoppers and boost sales. © Reuters July 30, 2024 12:25 JST | ChinaHONG KONG -- China's e-commerce sector is undergoing a major strategic shift as platforms switch gears from prioritizing ultralow prices to more sustainable sales growth.Douyin, the short-video platform owned by ByteDance, is focusing on growth in gross merchandise volume (GMV), a measure of total online sales, for the rest of the year afte...

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