The e-commerce growth signals seem to be unanimous: It’s moving at a snail’s pace.
And the latest reports from two industry heavyweights seem to confirm that recovery is still far and away.
Alibaba struggles
The Chinese e-commerce giant reported a single-digit rise in quarterly revenue, falling below already low expectations, amid the current economic slowdown.
Furthermore, customer management revenue—accounting for 30% of the company’s total revenue—fell 7% annually, which is the steepest-ever decline for the company.
Amazon commences layoffs
The company has reportedly begun cutting jobs with reports saying it may be Amazon’s “largest workforce reduction” in history, with over 10,000 people affected.
A company spokesperson cited the “current macro-environment” as the main reason.
Why we care
The growth decline among e-commerce platforms indicates the domino effect is in full motion – buyers are more cautious, making merchants and advertisers afraid to throw the money down the drain…
This doesn’t mean you should hit the brakes on your marketing efforts. But at the same time, it’s more important than ever to market smarter and look for opportunities in unlikely places.
Alex Lim
Alex Lim is a certified book reviewer and editor with over 10 years of experience in the publishing industry. He has reviewed hundreds of books for reputable magazines and websites, such as The New York Times, The Guardian, and Goodreads. Alex has a master’s degree in comparative literature from Harvard University and a PhD in literary criticism from Oxford University. He is also the author of several acclaimed books on literary theory and analysis, such as The Art of Reading and How to Write a Book Review. Alex lives in London, England with his wife and two children. You can contact him at [email protected] or follow him on Website | Twitter | Facebook
