A resident, wearing a face mask following the coronavirus disease outbreak, walks past a JD.com advertisement for the '618' shopping festival displayed outside a shopping mall in Beijing, China. The event was the first major shopping festival to take place since several Chinese cities, including Shanghai, were hit by a series of lockdowns to halt the spread of Covid-19.
Sales for ecommerce giant JD.com, which first created the event in 2004, grew at their slowest pace ever to hit 379.3bil yuan in a sign of how recent lockdowns and slowing economic conditions have hurt spending. "Due to the epidemic, some consumers saw their living space become smaller and this led them to spend some thought on adding some 'sparks' to their lives," said JD.com, in a post on its WeChat account on Sunday.
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