Alibaba consolidates community group buying operations under new Taocaicai brand

Chinese e-commerce giant Alibaba Group Holding is doubling down and escalating its community group buying operations through a new brand called Taocaicai, as competition in this growing retail market segment intensifies amid Beijing’s tightened regulation.Consumers can access Taocaicai, where they can find more than 1 million products from around the world, on the homepage of shopping platform Taobao Marketplace and the Taobao Deals’ app.“Taocaicai is for a better life, providing people with…