(Yicai Global) April 23 -- Alibaba Group Holding will offer buyers CNY2 billion (USD280 million) worth of price cuts and other incentives in its online and offline consumption scenarios during Shanghai's new shopping festival, the Hangzhou-based tech and e-commerce titan said today.

Shanghai will introduce an online and offline shopping festival from April to June, the eastern megacity announced today. 

Alibaba’s Hema Fresh physical grocery stores will supply crayfish sourced from virus-hit Hubei province to Shanghai consumers at a 55 percent discount on May 5th.

Its Tmall business-to-consumer e-commerce unit will provide CNY10 million in rebates to its customers in the city throughout the entire event. Its Taobao Live consumer-to consumer platform will cover four major business districts, including Nanjing East Road, Wujiaochang, Lujiazui and Xujiahui, to encourage ‘cloud shopping.’

Editor: Ben Armour