đź’¨ Abstract
Alibaba Group Holding reported lower-than-expected Q3 sales due to reduced consumer spending in China, impacted by economic uncertainties, a property sector crisis, and increased job insecurity among youth. Competition from discount-based retailers like Pinduoduo and Douyin is also affecting Alibaba's market share. JD.com also missed revenue estimates for the same period.
Courtesy: theprint.in
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