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Business trends

Online shopping wreaks havoc on Chinese department stores

Retailers forced to rethink strategy as Alibaba and others drain customers

Beijing's Saite Shopping Center during its going-out-of-business sale in June

BEIJING -- Much like their counterparts in other countries, department stores in China are being hammered by the online shopping onslaught led by Alibaba Group and other internet giants.

Customers at Saite Shopping Center, a department store that first opened in 1992, were greeted in June with a sign advertising its going-out-of-business sale through the end of the month.

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