09
Jul
China's biggest sales, which have historically raked in billions of dollars, appear to finally be losing their chokehold on the Chinese market.These sales, characterized by steep discounts, have offered all sorts of retail products, from iPhones to designer bags, at fractions of their original prices. And consumers usually bite.This year, they've started to hold off on going all in on big spending. The 2024 run of the 618 sale, held by e-commerce giant JD.com and other online retailers like Alibaba Group's Tmall and Pinduoduo, suffered its first dip in sales in eight years, retail data provider Syntun estimated.The shopping festival,…