Oct 14, 2024|
JD.com Report: China’s Silver Generation Adopts Youthful Shopping Trends
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)
Nov 7, 2024|
CIIE 2024: JD.com to Expand Imports of Specialty Brands, Strengthen Healthcare Partnerships, and Enhance Logistics
At the 7th China International Import Expo (CIIE) on November 5, JD Super, the supermarket division of JD.com, announced a major initiative to broaden its selection of imported specialty. Over the next three years, JD Super plans to introduce over 1,000 new international brands to meet the increasing demand for high-quality, diverse imported goods.
Meeting the Growing Demand for Quality Imports
According to JD Worldwide’s “White Paper on 2024 China Cross-Border Consumption Trends,” more than 80% of Chinese consumers are interested in imported products, with many prioritizing authenticity, quality, and fast delivery. In response, JD has significantly expanded its range of international offerings. During the ongoing Singles’ Day Grand Promotion, sales of cross-border products have surged, with more than 600 brands experiencing a sales increase of over 100% compared to last year.
Strengthening High-Quality Food Partnerships
Demonstrating JD.com’s commitment to sourcing high-quality products, JD Super signed a new procurement agreement at CIIE with Huadong Foods and Teys, a major Australian beef brand under Cargill. Under this agreement, JD Super and Huadong Foods will procure $50 million of Teys beef throughout 2025. This partnership underscores JD’s strategy of collaborating with trusted suppliers to provide high-quality, affordable beef to Chinese consumers.
Delivering Authentic Global Goods Efficiently
JD Logistics has built a robust logistics network that spans bonded, direct mail, and overseas warehouses, facilitating fast deliveries of imported items across categories such as electronics, fashion, beauty, food, and baby products. In many major cities, delivery times have been reduced to under 48 hours.
For instance, JD Super’s partnership with Raub of Malaysia enables the import of Musang King durians, which are harvested at peak ripeness and air-shipped with cold chain logistics for delivery within 24 hours. Additionally, JD.com also secured an early supply of Chilean cherries, available since October, which can be delivered in as little as 30 minutes in many areas through JD NOW, its on-demand retail service.
JD.com’s “JD National Pavilions” program, which features over 150 country-themed flagship stores from more than 70 countries and regions, continues to be a cornerstone of its import strategy. Supported by embassies and reputable organizations, this initiative offers Chinese consumers access to premium products and cultural experiences from around the world. In April, JD launched the JD National Pavilion of Mali, introducing popular items like shea butter and garnering over 40,000 followers.
Expanding Healthcare and Logistics Partnerships
JD Health is also making strides at CIIE by strengthening partnerships with leading global healthcare companies, including Merck, Bayer, and Roche. As “China’s premier online health access point,” JD Health is committed to integrating digital and physical healthcare resources to improve access and convenience for patients.
Key collaborations include initiatives with Haleon to promote brain health and anti-aging for the “silver economy,” with MSD China on a digital diabetes management model, and with Teva Pharmaceuticals to provide patient education for conditions such as tardive dyskinesia (TD) and Huntington’s disease (HD).
On the logistics front, JD Logistics announced plans to double its overseas warehouse space by 2025 and expand its network of bonded and direct mail warehouses. JD Express now serves over 60 countries, enhancing cross-border delivery efficiency and supporting both brands and consumers.
Through these efforts, JD.com reaffirms its commitment to sourcing and delivering authentic, high-quality imported products to Chinese consumers, supported by an advanced supply chain that ensures a superior shopping experience.
(vivian.yang@jd.com)
JD.com to Launch 2024 Singles Day Grand Promotion Featuring Over 1 Billion New Products
