Here's your summary from China's 618 Shopping Spree: A Battle Beyond Price Cuts (https://www.youtube.com/watch?v=CcqRKFPXFSk) on the Bloomberg Television channel:
### TLDR:
Chinese e-commerce platforms like JD.com and Alibaba are facing intense competition during the 618 shopping spree, with smaller companies gaining ground and consumers becoming more selective in their purchases.
### Key Points:
1. Chinese consumers are becoming more selective in their purchases, focusing on lower-priced items.
2. Smaller e-commerce platforms like Douyin Kwai Show and Little Red Book are gaining traction, with Douyin leading in growth.
3. Alibaba is rethinking its strategy and partnering with Bytedance to advertise on the video platform Kalibo.
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