- Widely viewed as a “sure bet” after launching a few years ago, China’s online platforms selling discounted goods in bulk to communities face widespread failure.
- Operated by tech giants (eg JD.com, Meituan) as well as startups, these platforms have been derailed by logistical hurdles (China’s strict Covid lockdowns) and recent government crackdowns on anti-competitive business practices (eg mass giveaways to attract customers).
- Despite raising $8.7B from investors since 2018, 80% of China’s 1,500 (peak) community-buying platforms have failed.
