In Depth: WeChat’s Short Video E-Commerce Drive Suffers From a Lack of Customers

As goes China’s broader economy, so goes the nation’s e-commerce spending. It may be little surprise then that after last month’s 618 shopping festival — an annual Black-Friday style event that stretches for weeks — e-commerce giants were tight-lipped about how their sales went.

China’s sluggish consumer demand and sputtering post-pandemic economic recovery have come at an awkward time for Tencent Holdings Ltd., which is pushing hard into the crowded social video market through its three-and-a-half year old Channels platform.