Apr 10, 2020|
JD Big Data: Business Resumes Rapidly in Hubei Province
by Yuchuan Wang
As the whole Hubei province is returning to life after lockdown, businesses in Hubei are gradually resuming operations. Looking at enterprise procurement, JD’s big data shows that although resumption of work lagged behind other places in China by one month due to the lockdown, it is recovering quickly.
From March 25th to 31st, the demand for goods from Hubei enterprises on JD’s platform increased 44.9% compared with the week earlier. Enterprises in higher-tier cities including Wuhan, Yichang and Xiangyang ranked top three in terms of demand, accounting for 21%, 19% and 17% of the province’s demand respectively.
From March 18th to 31st, the major demands were from public infrastructure and services enterprises with Bank of China, Wuhan Railway, Hubei Airport Co. and China Gezhouba (Group) Corporation leading the way. In addition, JD’s data saw that industries including finance, transportation and energy are resuming work comparatively earlier. Fifty-eight percent of Hubei’s enterprise clients who ordered on JD came from the financial industry.
During March 25th to 31st, procurement for food and beverages accounted for over 50% of all goods while cleansing and paper products accounted for 13%. Medical care, kitchenware and personal care categories increased the fastest with a week-on-week growth rate of 2758%, 498% and 347%.
It is worth noting that small and medium-sized enterprises (SMEs) have resumed business quite well according to the data. It shows that the weekly procurement from Hubei’s SMEs continues to grow. In just two weeks from March 18 to 31, JD Business, JD’s enterprise procurement platform, helped SMEs in Hubei save nearly RMB 6 million in procurement spendings.
On April 8, JD.com announced that it would invest more than RMB 6 billion in Hubei province over the next three years, launching a series of initiatives to support the recovery of Hubei’s economy and the development of local industry.