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.
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.