China’s E-commerce Crash: 80% Will Fail, 90% Return Rate, Influencers’ Riches Dream Shattered

Twenty years ago, when e-commerce was booming, people used to say, “There’s no business that’s hard to do.” However, no one expected that twenty years later, e-commerce would become the hardest business to run. Many e-commerce businesses have already collapsed on the eve of the 2024 618 Shopping Festival! #chinaobserver