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JD.com holds strong during Chinese lockdowns – RetailDetail EU

News Snapshot:

JD.com experienced its slowest growth since 2014 last quarter. Although that’s very relative: sales were still up 18%, despite the lockdowns and economic headwinds in China. Consumer confidence affected The new wave of Covid-related lockdowns in China is weighing heavily on consumption and the economy. A telling example: not a single car was sold in Shanghai in the month of April. The fact that JD.com recorded the slowest revenue growth last quarter since its listing in 2014 should therefore be put into perspective. Earlier, rival Alibaba also experienced its weakest quarter ever. Overall, JD.com sales still rose 18% to 239.7…

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