Alibaba, Pinduoduo amongst top 25 retailers globally

E-commerce platform JD.com also made it to GlobalData’s list.

Chinese retailers Alibaba, Pinduoduo, and JD.com are amongst the top 25 retailers by market capitalisation growth globally, GlobalData reported.

As of the second quarter of the year, Alibaba’s market cap stood at $616.3b, making it the second leading retailer across the globe. The company followed Amazon which had $1.08t.

“Amazon was the only organization among the top 25 retailers that lost over $100 billion in its Q2 valuation,” Ragupathy Jayaraman, Business Fundamentals Analyst at GlobalData, said.

“Although the company gained substantially from the pandemic, which improved its stocks’ performance enormously in 2020 and 2021, inflationary pressures and the market dip in 2022 brought the company’s stocks back to its pre-pandemic levels.”

According to Jayaraman, Amazon also posted its first quarterly loss in seven years; whilst other American brands Walmart, Lowe’s, Nike, and Costco reported more than a 20% decline in their valuation during the same period.

“In contrast, Chinese retail giants Alibaba, Pinduoduo and JD.com reported market cap growth in the present cycle, with Alibaba and Pinduoduo recording more than 35% growth in valuation,” Jayaraman said.

Alibaba also saw the biggest gain after its valuation improved to $616b from $296b in the first quarter of the year.

“However, the Chinese government’s regulatory crackdown on organizations continues to raise concerns for investors,” Jayaraman said.