Chinese consumers are seeking discounts and lower-cost shopping
SHANGHAI - Quarterly earnings reports from Chinese e-commerce giants Alibaba and JD.com this week will be closely watched as barometers for the mood of consumers in the world's second-largest economy.
Alibaba and JD.com have responded to this trend but they risk lower margins by doing so. This low-cost battleground presents a challenge for Alibaba's Tmall and JD.com. Alibaba "cannot ignore PDD, but nor can it quell the competitive threat by wholly adopting PDD's strategy. JD.com is in a similar position," she said.
That effort resulted in mixed returns. In the September to December quarter last year, which included the year's biggest sales festival of Singles Day, revenue at Alibaba's Taobao and Tmall Group increased only 2% year-on-year while JD.com rose only 3.6%. Douyin, which does not regularly disclose sales data, was tipped to grow 60% for 2023, according to research firm eMarketer's estimates.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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