Visitors pass by the Alibaba booth during the China International Fair for Trade in Services in Beijing, Sept. 7, 2021. Photo: AP
Visitors pass by the Alibaba booth during the China International Fair for Trade in Services in Beijing, Sept. 7, 2021. Photo: AP
Alibaba

Alibaba’s era of exceptional growth is over as Chinese consumer spending power weakens, say analysts

  • The Chinese e-commerce giant’s adjusted profit fell 39 per cent in the September quarter, marking the first such decline in 22 quarters
  • Competition from rivals Pinduoduo and JD.com, as well as online sales by live-streaming platforms like Douyin, have squeezed profit margins

Visitors pass by the Alibaba booth during the China International Fair for Trade in Services in Beijing, Sept. 7, 2021. Photo: AP
Visitors pass by the Alibaba booth during the China International Fair for Trade in Services in Beijing, Sept. 7, 2021. Photo: AP
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