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Alibaba Group Holdings Ltd ADR (BABA)

NYSE
Currency in USD
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72.37
+0.78(+1.09%)
Closed
After Hours
72.34-0.03(-0.04%)

BABA Comments

Sooner or later baba will be regulated. There's major public complains this year from double 11 where taobao is using a bait and switch discount technique to lure in impulse buying to generate sales figures. The platform gives you cash discounts upfront with super fine text saying you need to hit a rather high final spending or the discount will be taken back (250 discount if you spend 5000). Most people don't read the fine text and don't spend that much money, a month later their accounts get auto deducted the initial discount price. Although there was fine print on this, quite a few people are angry over this slimy move by the platform. It's like best buy sells you a 70 inch led tv for $200 on black friday, then a month later charges you $3000 full price because you didn't read the fine print of it saying you had to spend $5000 in order to buy that tv for $200.
on paper it's the same, but I'm practice it's different because unless your bill is $100 at checkout, you can't use the 10% discount. Taobao this time let's you use the discount first, then attaches the twist after. if you don't meet it, then they take the money back.
normally yes, but in this case the difference is 1. in the past 11/11 events, TB would give out these discounts only AFTER you meet the requirements (ie meet a certain shopping cart threshold). Certain people would not add enough items and in turn would not enjoy the discount so would not buy. 2. this time they changed the policy to give you money first with the option to withdraw later, knowing people won't have time to read the fine print due to the frenzied rush to pay for items. this way people think they already got the discount and go through with a purchase where in past years might skip because they didn't reach a certain threshold. See the sneaky difference to boost sales on 11/11?
I think so eventually. this seems like the first year they're doing this and already see tons of open complaints on the social media sites here
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