Jan 29, 2023|
Chinese Spring Festival 2023 Consumption Trends: “3R” Food, Routine Shopping and More
by Vivian Yang
Among the most prominent consumption trends during this Chinese new year holiday period (from January 21-27) were the continued booming of “3R” food, diversified and routine e-shopping categories, and the vast potential in the lower-tier markets, according to a report prepared by JD.com’s Consumption and Industry Development Research Institute.
“3R” food (short for “ready-to-cook”, “ready-to-heat” and “ready-to-eat” food) saw six-fold growth in transaction volume year over year during this period.
Food is an essential element of Chinese Spring Festival celebrations. With the 3R industry thriving in China in recent years, more and more Chinese families are choosing to order 3R dishes to enrich their reunion meals, especially meaningful holiday dishes such as chicken soup with fish maw; those with complex preparations such as Sichuan-style fish filets with pickled vegetables; and those that require special cooking skills, such as the delicacy known as “Buddha jumps over the wall,” which requires hours to simmer a variety of seafood, meat, and other nutritious ingredients.
The report also noted that with the normalization of non-stop delivery service during the festival, Chinese consumers are accustomed to ordering all kinds of “routine” products during the festival period. The transaction volume of mobile phones, home appliances, and health products on JD.com all witnessed substantial increases. (This year marks the 11th year in a row that JD Logistics has offered non-stop delivery service during Chinese New Year.)
Meanwhile, after-sales services have been in hot demand during the holiday, such as mobile phone warranty service (up by 296 percent YoY), home appliance repairs (83 percent) and home cleaning (302 percent).
Consumers’ shopping preferences vary in different tiers of cities. The report found that during the spring festival period, consumers living in higher-tier markets shopped for a lot of fresh food, flowers and pet supplies on JD.com, while those from lower-tier markets bought more mobile phones, home appliances, furnishing and decoration products. This is reflective of the trickle-down effect by which young people returning to their homes from big cities during the holiday are spreading their online shopping habits to their relatives and friends in villages and towns, and enabling more people to enjoy the convenience and quality goods that e-commerce offers, according to the report.
Apr 18, 2024|
JD.com Awarded 2024 INFORMS Prize for Excellence in Operations Research and Analytics
JD.com is honored to announce that it has been awarded the 2024 INFORMS Prize. This recognition makes JD.com the first Asia-based enterprise to receive the award, highlighting its pioneering use of advanced analytics and operations research/management sciences (OR/MS) within its business operations.
The INFORMS Prize is awarded an organization that has repeatedly applied the principles of advanced analytics and OR/MS in pioneering, varied, novel, and lasting ways. Previous recipients include Walmart, Wayfair, Amazon, UPS, Booz Allen Hamilton, BNSF Railway, Walt Disney Company, U.S. Air Force, General Motors, Intel, HP, IBM, Ford, Procter & Gamble and GE Research.
Speaking on behalf of the selection committee, Mehmet Gumus, 2024 INFORMS Prize committee chair, remarked: “JD.com is showcasing data science as a source of business success and a necessary element to achieve customer satisfaction with continuous and dedicated practice. JD.com is truly deserving of this prestigious prize, and the entire O.R. and analytics community joins INFORMS in thanking them for their priceless contributions to the field and the business world.”
JD.com’s commitment to enhancing operational efficiency and customer service through OR/MS has been integral to its success. The company has developed an independently managed intelligent supply chain system that utilizes cutting-edge operations research algorithms to optimize warehouse management and logistics operations. This includes the operation of hundreds of intelligent warehouses and dozens of “Asia No. 1” intelligent logistics parks.
“We are honored to accept the INFORMS Prize and will continue to be steadfast in our dedication to leveraging the transformative potential of operations research,” said Sandy Xu, CEO of JD.com. “Our company’s supply chain not only aims to lead the industry, but also enhance the efficiency and well-being of our entire ecosystem.”
By the end of the fourth quarter of 2023, JD’s supply chain infrastructure assets had grown to RMB 153.8 billion, an increase of 16% year-on-year. Managing over 10 million self-operated SKUs, JD has achieved a global leading average inventory turnover of 30.3 days. This operational prowess enables JD to fulfill 95% of retail orders within 24 hours, significantly enhancing customer satisfaction and setting new standards in the industry.
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JD Super’s Ninth Annual “Baby Party” Campaign: Supporting Families with Newborns
JD Super, JD.com’s omni-channel supermarket division, successfully concluded its ninth annual “Baby Party” campaign, which ran from April 1st to 14th. Collaborating with leading brands from home and abroad, the campaign introduced new products and services designed to improve the shopping experience and reduce expenses for families with newborns.
Pioneering services included the “Fresh Milk Powder Express,” guaranteeing delivery of farm-to-consumer baby formula within 28 days, and the “Free Diaper Offers for Newborns” initiative, set to distribute one million diaper packs annually. Moreover, the “Life’s First Bottle” project significantly reduces the costs of high-quality milk bottles by offering them exclusively online at a 50% discount.
JD Super’s specialized after-sales services extend to over 90% of the company’s self-operated products, offering services such as free returns or exchanges. Another highlight was the introduction of the Chun Rui milk formula, developed in partnership with Feihe, a leader in infant milk production. This collaboration ensures top-quality products at better value for families.
Additionally, JD Super launched an online portal dedicated to public welfare activities, which promotes cost-saving measures, shares knowledge on baby care, and supports charity initiatives.
As part of its commitment to philanthropy, JD Super donated essential baby supplies valued at over one million yuan to 1,000 families in the economically disadvantaged Liangshan Yi Autonomous Prefecture of Sichuan Province, supporting local parents in this region.
The 2024 Report on Cost of Childbearing and Childrearing in China shed light on the challenges faced by parents, including limited free time and growing anxiety over rising costs and product safety. JD Super aims to mitigate some of these concerns by providing support to families nationwide.
Ambassadors Experience Chinese New Year Shopping and Meal at JD.com
