China’s two largest ecommerce sites Alibaba and Pinduoduo reported better than expected sales growth despite coronavirus difficulties in the first quarter.
Both online marketplaces struggled with shortages of merchants and couriers as the virus lockdown trapped millions of Chinese at home in rural areas, far from the cities where they run online shops and ferry packages.
Hangzhou-based Alibaba increased revenues 22 per cent to Rmb114.3bn ($16.1bn) but sales stagnated at its core Tmall and Taobao ecommerce marketplaces. Sales of clothing, accessories and home furnishings fell during the three-month period, as did some of its offerings for restaurants and shops.
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