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aws全区号(www.2km.me)_Insight - Alibaba’s e-commerce empire under threat

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In China, its two main marketplaces – Tmall for established brands and Taobao which welcomes all kinds of merchants – process over US$1 trillion (RM4.2 trillion) in orders annually.(A security officer wearing a face mask walks past an advertisement for a Singles' Day shopping promotion from online shopping platform Tmall, owned by Chinese e-commerce giant Alibaba, in a subway station in Beijing, Thursday, Nov. 11, 2021. China's biggest online shopping day, known as "Singles' Day" on Nov. 11, is taking on a muted tone this year as regulators crack down on the technology industry and President Xi Jinping pushes for "common prosperity." - AP)

FOR more than a decade, the Alibaba Group has been China’s undisputed e-commerce king but of late its crown has shown signs of slipping, unsettled by an influx of aggressive competitors into the sector.

This week, Alibaba announced it was reorganising its e-commerce businesses into two units, one for China and one for overseas.

In China, its two main marketplaces – Tmall for established brands and Taobao which welcomes all kinds of merchants – process over US$1 trillion (RM4.2 trillion) in orders annually.

But Alibaba is seeing sharply slower growth in customer management revenue (CMR), the money derived from charging merchants for services which usually accounts for one-third to one-half of its overall revenue. It rose just 3% in the July-September quarter, down from 20% growth a year earlier.

Alibaba last month also cut its annual revenue forecast while sales or gross merchandise value (GMV) for Singles Day, its banner shopping event, this year climbed only 8.5%, the smallest rise to date.

Those disappointing numbers are due in part to regulatory changes and pandemic-induced slower economic growth that has made shoppers reluctant to splurge.Alibaba HQ Hangzhou

But they also highlight the onslaught of competition and the fact that some rivals have stolen a march over Alibaba in the fastest-growing areas of China’s e-commerce.

Merchants and analysts cite ByteDance’s Douyin – the Chinese sister app to TikTok and a relative newcomer – as the force to beat in live-streaming e-commerce, while Nasdaq-listed Pinduoduo Inc has taken the lead in rural and budget e-commerce.

“Other platforms are growing faster than Alibaba, which means they are eating Alibaba’s lunch,” said Lu Zhenwang, CEO of Shanghai-based Wanqing Consultancy.

Alibaba said in a statement to Reuters it has always faced intense competition. It added that it offers merchants a powerful live-streaming tool in Taobao Live and that its Taobao Deals platform for discount shopping and Taocaicai platform for community group buying were gaining share in lower-tier markets.

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