Here's what China's e-commerce giants are telling us about the economy

Quick Summary

Growth in online sales is slowing, while new players eat away at Alibaba's market share, data show.

JD, Pinduoduo, Douyin and Kuaishou all grew market share during that time, the report said.

Users like cosmetics livestreamer Zhao Mengche often describe Kuaishou as having a "community," in which he said the app is trying to integrate more brands and mimic a village market square — online.

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Article Details

Category: Economy

Topics: JD.Com Inc Cnbc Markets Retail industry Stock markets Alibaba Group Holding Ltd Asia Markets Technology Tencent Holdings Ltd Articles Meituan E-commerce Market Insider Source:tagname:CNBC Asia Source Pinduoduo Inc Kuaishou Technology Retail Asia Economy China Markets China Economy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-23, 00:00:36

News Timezone: GMT -5:00

News Source URL: cnbc.com

Language: English

Reading Time: 7 minutes read

Article Length: 1097 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 4581

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