Oct 9, 2020|
JD Data: Golden Week Consumption & China’s Economic Recovery
by Ella Kidron
This year’s National Day Golden Week holiday (held October 1-8th) was about three things: the Mid-Autumn Festival, homecoming and sightseeing. Consumers were out and about, stretching not only their legs but also their wallets, according to JD’s Big Data. Shopping behavior both contributed to the post-COVID economic recovery in China, and demonstrated the vitality of the Chinese economy as well as consumer confidence.
Travel and leisure, sports and outdoor activities, home renovation and home appliances, and jewelry drove the bulk of the holiday consumption boom. Many people heading home opted to send gift certificates home, simultaneously avoiding showing up empty handed and having to lug heavy boxes of mooncakes or hairy crabs on the long journey. Sales of food gift certificates increased 33 times YOY. Non-local orders for Hubei specialties increased over 100% YOY, indicating people either returning home and bringing local specialties on the way, or traveling to the province and giving family and friends back home a “taste of Hubei”.
Many consumers opted to travel with child in tow, explaining a 230% YOY increase in baby strollers, as well as a 200% increase in baby snacks and 180% increase in car seats, respectively.
Understanding that lugging a heavy box of souvenirs home can be a real pain, JD set up Express pickup locations at nearly 2,000 scenic areas, shopping malls and streets, hotels, bus stations and more around the country.
Consumers’ increased attention to health and wellness is also providing opportunities for the high-end personal items market. Personal care small home appliances increased over 40% with items like nano ionic blow dryers and intelligent sonic razors becoming new customer favorites. In general, browsing for “smart products” has increased 200%. Attention paid to automated fingerprint locks increased over 100%. Another large contributor to health, fresh has been no slouch. Transaction volume of the fresh category increased over 50%, among which dairy products and cold beverages increased 80% and meat increased 70%.
Home renovation demand has continued to grow started from Q2, driving an increase in large appliance purchases. High quality home appliances and kitchen and bath appliances increased 35%. From October 1-3, air conditioner sales doubled YOY, among which first class energy efficient ACs increased by 330% YOY, accounting for 28% of total turnover. Dish washers with disinfectant capabilities increased 150% YOY. Large screen TVs over RMB 10,000 yuan increased over 100% YOY while gaming TVs exceeded the average of the past five days and OLED TVs more than doubled.
A 131% YOY increase in business-use appliances sales also indicates a strong recovery of offline business. Large refrigerators, meat slicers and milk tea machines are some of the leading products.
Wedding fervor over the holiday gave gold and silver jewelry consumption a boost. Gold jewelry transaction volume increased 30% YOY while jade increased nearly 40%. The increase in gold jewelry matched that of last year’s National Day. More consumers’ choosing to invest in wearables (gold and silver jewelry) rather than “store-ables” (investment gold) indicates increasing consumer confidence following a tumultuous start to the year.
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)
Consumer Spending during National Holiday Indicates Strong Recovery of Tourism and Shopping Enthusiasm
