A slowdown in Alibaba commerce means the e-commerce giant approaches Singles' Day with revenue growth tied with JD.com, according to the latest company reports.
Alibaba commerce revenue rose by 37.6% in the final quarter of 2019, a notable gap from JD Retail's 25.5% revenue growth. However, this gap had closed by the first quarter of 2020 and Alibaba was only 1.1 percentage points ahead of JD.com in Q2 2020.
Pinduoduo's revenue growth is far quicker heading into Double 11 – almost doubling in Q4 2019 (90.9%) and rising by two-fifths (67.3%) in the second quarter of 2020. However, its total...