TECH - Alibaba Losing Ground As Merchants Shift To JD.Com Douyin And Other Rival Platforms: Report | Benzinga
The factories in Shaji, China, have begun to shift their allegiance from Alibaba Group Holding Ltd (NYSE:BABA) to rival e-commerce platforms, citing a decline in Alibaba’s ability to guarantee sales.
What Happened: The factories in Shaji, a town in eastern China, have started to list their products on competing online stores, including Pinduoduo Inc. (NASDAQ:PDD), JD.com Inc. (NASDAQ:JD), and ByteDance Ltd.‘s Douyin, the Financial Times reported. This move comes as a result of a shift in Chinese consumers’ buying behavior, with cross-platform shopping becoming the new norm.
Merchants in Shaji, who previously relied solely on Alibaba’s platforms, have been forced to diversify their online sales. This shift highlights the challenges faced by Alibaba as it undergoes a significant restructuring while attempting to revive its core e-commerce business.
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