Try not to go for too many combos, because Pikachu is small enough to potentially fall out. Instead and go for a bait and punish play style.
The mario's cape is extremely effective with pika's Down B, So every time Pika does it, Don't dodge, Reflect it!
The thing with pikachu is complicated, Mario Counters Him, But Pikachu counters him too, This battle is extremely balanced, But using the cape can be a good idea with his lighthing attacks.
Pikachu mains like to spam Down-Smash and Side smash A LOT, So if you are able to either dodge or block those attacks, You can counter him with your own smash attacks, Such as the Mario 64 breakdance.
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