Although Alibaba has bounced back from the early days of the pandemic, it is again plagued by decelerating core commerce growth as it was prior to the crisis. Alibaba posted decelerating core commerce revenue growth in the last three quarters of the 2019 calendar year, falling from 54% YoY growth in the ended March 31, 2019 to 38% YoY growth in the last quarter of the year. And that trend appears to have continued in the past two quarters, despite its pandemic recovery.
Alibaba's holiday plans and in-store efforts could help it lift its revenue growth in both the short and long term. Singles' Day, Alibaba's flagship sales holiday, should thrive thanks to growing interest in ecommerce and potentially accelerate the firm's commerce revenue growth. The massive sales event, which takes place on November 11, saw Alibaba rack up approximately $38.3 billion in gross merchandise value in