Jun 9, 2021|
Dada Q1 2021 Earnings: Further Deepen Cooperation with JD.com under Omni-channel Strategy
by Dada and JD
Dada Group announced its first quarter financial results on June 8th, kicking off 2021 with another strong quarter.
Dada’s total net revenues increased by 52% YOY, exceeding the high end of its guidance. Revenue generated from JDDJ reached 778 million, with a 2-year CAGR of 97%. GMV of JDDJ for the twelve months ended March 31, was RMB 28.1 billion, an increase of 78.9% YOY. And the number of active consumers was 46.1 million.
“We are pleased to kick off 2021 with another strong quarter,” commented Mr. Philip Kuai, Chairman and CEO of Dada. “We are excited to further deepen our cooperation with JD.com under the omni-channel approach. Leveraging JD’s devoted support, we will better fulfill demands for local on-demand retail and its delivery on JD.com, covering various scenarios and categories, and expand our omni-channel cooperation with JD.com. Together with JD.com, we will continue to provide consumers with superior experience, empower retail and brand partners and achieve a win-win cooperation for all.”
JDDJ, the on-demand retail platform, has constantly expanded its geographic coverage, especially in lower-tier cities, and further diversified category coverage to provide consumers with more product offerings in more categories on demand. By the end of the first quarter, JDDJ platform has covered over 1,500 cities and counties, which has more than doubled compared to the same period last year. While flagship supermarket category remains on the fast growth trajectory, JDDJ has made significant progress across many other categories.
On-demand delivery platform Dada Now’s intra-city delivery services to chain merchants continued to grow significantly, with revenue in the first quarter increasing by more than 130% YOY. As more chain merchants choose Dada services, the store penetration for each merchant continues to rise. As of the end of Q1, Dada Now provided support to logistics companies in over 2,700 cities and counties and the platform continued to deepen its cooperation with JD Logistics.
Please find the full version of the financial report here.