chinese consumers are cutting back on discretionary purchases and becoming more thrifty as the country’s economic slowdown drags on impeding the onceinexorable growth of the country’s ecommerce companies for the apriljune quarter alibaba group holding posted its first revenue decline while jdcom saw its slowest growth after lockdowns and other rigid covid19 control measures in china caused disruptions to supply chains executives and analysts expected better performance from chinese ecommerce companies in the current quarter but uncertainties linger as beijing sticks to its stringent zerocovid policy