May 10, 2019 - Economy & Business
Chinese e-commerce giant JD.com sees its slowest revenue growth on record
The 21% revenue growth posted by Chinese e-commerce giant JD.com in the first quarter of 2019 is its slowest on record, signaling that the rush of new Chinese customers is starting to plateau. JD's chief rival, Alibaba, has also reported slowing growth.
Why it matters: The e-commerce companies experienced massive booms in earlier years as millions of new Chinese users entered the urban middle class and became customers. Now, the pace of growth for that user base is slowing down, forcing both JD and Alibaba to expand into other Asian markets to add shoppers.
Go deeper: JD.com makes 90% of its Chinese deliveries within 24 hours