Oct 14, 2024| JD Retail

JD.com Report: China’s Silver Generation Adopts Youthful Shopping Trends

Vivian Yang

On the occasion of China’s Double Ninth Festival – a traditional event on the ninth day of the ninth lunar month – JD.com’s Consumption and Industry Development Research Institute has released its “2024 Silver-Haired Consumer Report.” The report highlights an increasing convergence between the spending habits of China’s older and younger generations.

The report, based on surveys of 500 older adults and 500 younger individuals, identifies similarities in consumer preferences across areas such as, fitness, travel, skincare, and lifestyle. It reveals that China’s older adults are rapidly becoming a key force in the online consumer market, exhibiting greater spending power and a growing appetite for a wide range of modern products and services.

Blurring the Boundaries

One key finding is the increasing digital proficiency among older adults. According to the report, 60.7% of older adults spend more than three hours a day online, engaging in activities such as online shopping, reading news, mobile payments, and video streaming. These activities have become an integral part of their daily lives, nearly matching the habits of younger generations.

Online shopping by seniors has seen remarkable growth. From January to September 2024, the number of transactions, active shoppers, and spending by this group on JD increased by 238%, 187%, and 105%, respectively, compared to the same period in 2019. Their purchases range from basic necessities to high-tech gadgets and home appliances, with JD.com being the top choice for 95.3% of older shoppers.

Data from the National Bureau of Statistics indicates that China’s population aged 60 and above reached 280 million in 2022, with over half being younger seniors aged 60-69. This demographic is generally well-educated, financially capable, and open to new experiences, leading to consumption habits increasingly similar to those of younger generations. The report notes that younger consumers’ spending trends are also influencing the lifestyles and consumption patterns of the elderly, further blurring the boundaries between the two groups.

Growing Appetite for Modern Shopping

Health and wellness have become major priorities for older adults, reflected in the rising demand for nutrition and fitness products. Sales of probiotics and health tonics increased more than tenfold and threefold, respectively, while fitness equipment like kettlebells and resistance bands more than doubled in sales. Additionally, sports gear for activities like badminton and pickleball saw an 80% increase in demand.

Fashion and beauty spending among seniors has also surged. Jewelry and beauty product sales have climbed, with sales of rings up by 307% and jade necklaces by 132%,. Anti-aging skincare products and personalized fashion items have seen a more than tenfold increase in sales.

Older consumers are not only embracing products designed for their age group but also cutting-edge technology. Sales of electric beds and shower chairs have grown by 152% and 202%, while smart locks and switches, like kitchen appliances, are becoming more common in senior households. Sales of smart bathroom cabinets, for instance, have risen by 277%.

Beyond essential purchases, seniors are driving demand for leisure activities such as photography, travel, and music. Sales of instant cameras jumped by 165%, while live-streaming equipment and digital cameras saw sales double. Pet care is another area where spending has surged, with prescription pet food sales rising by 332% and pet health products growing by over 100%.

(vivian.yang@jd.com)

Dec 25, 2024| JD Health, JD Retail

JD Report: Five Health Consumption Trends for 2024

Vivian Yang

On December 24th, JD.com’s Consumption and Industry Development Research Institute, in collaboration with Jianwen Consulting, a media think tank specializing in the health sector, released an insightful analysis of the 2024 health consumption landscape in China. The report outlines five key trends in the health industry, highlighting the increasing consumer demand for proactive health management and the industry’s evolving dynamics.

The Rise of Weight Management Solutions

Modern lifestyles have contributed to rising obesity rates with 34.3% of Chinese adults classified as overweight and 16.4% as obese. Obesity is associated with over 200 diseases, posing significant health risks. The introduction of semaglutide, a GLP-1 receptor agonist for long-term weight management, in China marks a promising development. The market for GLP-1 weight loss drugs in China is projected to exceed 37.852 billion RMB by 2030. On JD.com, searches related to “weight management” have increased more than 3.8 times year-on-year, with growing demand for diet products and home fitness equipment such as kettlebells and leg trainers.

Addressing the Growing Mental Health Concerns
With 95 million people in China affected by depression, mental health is an increasing concern. Consumers are turning to books, stress-relief toys, online consultations, and meditation to manage stress. On JD.com, searches for “mental health” have doubled, with significant interest in emotional release tools and psychological books. JD Health’s Internet Hospital now offers specialized clinics with over 2,300 counselors addressing issues like anxiety, depression, and sleep disorders.

The Booming Sleep Economy
Over 300 million Chinese experience sleep disorders, often due to irregular schedules. The sleep economy is booming with the market size reaching 495.58 billion RMB in 2023 and expected to surpass 600 billion RMB by 2027. JD.com has seen a 210% increase in searches for sleep aids, with high demand for sleep headphones, eye masks, and nutritional supplements. Sales of sleep-enhancing pillows and mattresses have also grown significantly.

Everyday Integration of Medical Devices

The home medical device market is expanding as consumers increasingly monitor their health independently. Products like heart rate-monitoring smartwatches and glucose meters are becoming household staples. This year, JD.com data shows that purchases of vision care devices and smart health monitoring equipment have tripled. The market for home medical devices is expected to reach 380 billion RMB by 2025.

Shifting Focus to Preventive Health Management

Emphasizing early screening and intervention, JD.com has seen a significant rise in orders for health services such as genetic testing and early cancer screening. These trends highlight a shift from treatment to prevention, driven by technological advancements and policy support. As consumer awareness grows, health consumption is becoming a major force in economic development, presenting opportunities for rapid growth in the health industry.

In conclusion, the 2024 health consumption landscape is characterized by a strong shift towards proactive health management and the integration of technology into everyday health practices. These trends not only reflect changing consumer priorities but also indicate significant growth opportunities for businesses in the health sector. JD.com remains committed to supporting these developments by providing innovative products and services tailored to the evolving needs of consumers across the dynamic health sector.

(vivian.yang@jd.com)

Dec 20, 2024| JD Retail

Dada NOW Receives “Leading Restaurant Empowerment Platform” Award at the 10th China Catering Innovation Conference

Vivian Yang

On December 19, Dada NOW, China’s leading local on-demand delivery platform under Dada Group, was awarded the “Leading Restaurant Empowerment Platform” accolade at the 10th China Catering Innovation Conference in Shanghai. Celebrated for its innovative 4D Service Standards, Dada NOW delivers professional, flexible, intelligent, and customizable services to top food and beverage brands including CHAGEE, KFC, Luckin Coffee, McDonald’s, and Pizza Hut, garnering extensive acclaim within the catering industry.

4D Service Standards

The “Leading Restaurant Empowerment Platform” award honors platforms that provide comprehensive and professional services to restaurant businesses. Leveraging years of experience with leading restaurant brands, Dada NOW has crafted its 4D Service Standards to effectively address delivery challenges and enhance service quality. These standards include:

Dedicated: Integrated solutions for warehousing, picking, and delivery.
Dynamic: Tailored delivery solutions for diverse vendor scenarios, including store-stationed and crowdsourced rider options.
Data-driven: Efficient data management systems utilizing AI technology for order dispatching, fulfillment timeliness, and quality inspection.
Designable: Customized services for large supermarkets and restaurant merchants to bolster brand value.

Fast and Accurate Delivery

In the fast-paced food delivery sector, Dada NOW’s survey data indicates that 63% of brand merchants and consumers expect timely delivery, 21% prioritize location accuracy, and 9% value punctual pickup. Dada NOW completes delivery in as quickly as 9 minutes, with a 99.5% on-time completion rate and a 98% accuracy delivery rate. Real-time order matching is achieved in as fast as 0.3 seconds, ensuring fast and accurate service.

Unlike delivery providers that only focus on a single merchant type, Dada NOW provides both supermarket and restaurant deliveries. The differing peak times between these sectors allow for capacity complementation, enhancing efficiency and reducing costs. With a nationwide network of over a million riders and an industry-leading on-demand delivery model, Dada NOW has executed over 900 million route plans, swiftly allocating resources during peak periods such as lunch and dinner rushes, new product launches, and promotional events.

Customized Solutions for Merchants

To meet the strong customization needs of brand merchants, Dada NOW can offer bespoke services for each store, integrating its delivery capacity, products, and technological solutions. A notable example is the partnership with Sam’s Club, for which since 2017 Dada NOW has developed customized solutions in delivery capacity models, co-branded equipment, rider training, and system integration. This collaboration has achieved nearly 100% coverage of customized rider equipment such as helmets, uniform and delivery containers, and provides excellent customer service experiences. This highly effective collaboration demonstrates Dada NOW capabilities that are also transferrable to the restaurant sector.

Luckin Coffee, a long-standing partner of Dada NOW, exemplifies the high standards in the coffee and tea beverage sector, achieving a “30-minute delivery rate of 99.9%” to maintain peak freshness delivered to customers’ doorsteps. Dada NOW’s flexible rider network effectively manages peak demands and large order volumes during product launches and promotions through an intelligent order dispatching system, ensuring optimized delivery routes and careful handling to prevent issues like coffee spillage. Since 2023, this partnership has earned Dada Now several accolades from Luckin Coffee, including the “Best Strategic Cooperation Award” and “2023 Outstanding Delivery Partner,” with rider Tu Yanping being recognized as one of four “Annual Gold Riders” nationwide.

Dada Group operates two core businesses: JD NOW, formerly known as JDDJ, an instant retail platform, and Dada NOW, a local on-demand delivery service. Leveraging its extensive crowdsourced delivery network of millions of riders, Dada NOW provides a comprehensive service system open to merchants and individual senders across various industries and product categories. The company’s two platforms operate independently and collaboratively.

(vivian.yang@jd.com)

JD.com to Launch 2024 Singles Day Grand Promotion Featuring Over 1 Billion New Products