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Internet Retailer reports that Amazon-owned Zappos for the first time is embracing a pricing model that will automatically adjust prices to match online competitors "on selected products." The story says that the program "started Oct. 31 and is currently scheduled to run through Nov. 20, although Zappos says it may extend the offer."

“We are constantly trying to up our value propositions and listen to customer feedback and feel Zappos Price Promise will truly help our customers this holiday season,” says Joe Grusman, director of marketing acquisition and emerging platforms at Zappos.


Bloomberg reports that "Alibaba Group Holding Ltd. broke its Singles’ Day sales record with room to spare, offering assurances about the strength of the Chinese consumer despite the nation’s economic slowdown ... Sales on its e-commerce platform reached 102 billion yuan ($15 billion) shortly before 8 pm in China, easily topping last year’s total of 91.2 billion yuan with about four hours left to run. Dwarfing both America’s Cyber Monday and Black Friday, the 24-hour online promotion is closely watched for clues on the health of the economy and its largest online retailer."

The story explains that "billionaire Jack Ma’s Alibaba pioneered the annual shopping spree in 2009 and has since transformed it into a social phenomenon, replicated by rivals including JD.com Inc. and now involving thousands of marquee labels across the world."
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