CHINESE SHOPPERS ARE WILLING TO SPEND MORE MONEY, SAYS CEO OF ALIBABA'S INTIME DEPARTMENT STORE CHAIN

China's consumers want to spend more money but they have cut down the time spent on the shopping journey, Chen Xiaodong, CEO of Alibaba-owned InTime said. InTime is one of China's largest department store operators and was acquired by the tech giant in 2017. At the moment, traffic to InTime's physical stores is relatively low and around 20% of current sales are coming from its online store. ...