💨 Abstract

Chinese e-commerce group JD.com missed quarterly revenue estimates due to economic slowdown in China, resulting in consumers holding onto their money. The company's shares fell 4%, despite a 48% increase in net income. Prolonged property crisis, slowing economy, and job insecurity have impacted consumer confidence, affecting retail sales and causing a price war among e-commerce platforms. JD.com

Courtesy: theprint.in

Summarized by Einstein Beta 🤖