Dec 10, 2020|
JD Golden List Reveals Consumption Trends in China
by Rachel Liu
JD revealed twelve major consumption trends of 2020 at the annual ceremony of the JD Golden List program on December 10th in Beijing. JD Golden List releases official lists generated by different business categories of JD each month, showing popular products and consumption trends to provide reference for customers when they shop.
The consumption trends show that Chinese consumers are willing to shop and chase their passions. For example, in the book category, sales of books related to popular TV shows are soaring on JD. For computer and digital products, customers tend to buy gaming laptops, smart watches and other high-end products. Trends also show that apart from taking care of themselves, customers are also giving the best products to their pets – sales of luxury pet care products are increasing on JD too. Chinese consumers are embracing a digital lifestyle by buying smart audio products, smart printers, smart pet feeders and more.
“Chinese consumers are becoming more sophisticated and looking for more high-quality and unique products,” said Chenkai Ling, Vice President of JD.com; head of Strategy Development, JD Retail. “Customers can feel lost when facing with hundreds of thousands of choices when shopping,” he said. “JD Golden List can not only provide suggestions to customers, but also empower our brand partners by leveraging JD’s big data to recommend the best and highest-quality products to customers.”
JD also revealed the 100 “golden products” of the year, covering brands like Huawei, China Unicom, Xiaomi, Lenovo, SK-11, Ecovacs, and more brands in the categories of books, digital products, computers, consumer goods, fashion and health, which are selected from products on JD, based on customers’ data and feedback of industry experts.
“We would like to make a trustworthy list for customers to refer to when they shop.” said Tingting Liu, head of WeChat Ecosystem and Innovation Business, JD Retail. “JD Golden List analyzed the products’ popularity, speed of increasing sales, feedback, and brand recognition through algorithms to ensure fairness. The lists are updated each month to make sure it’s always following the trend. We also invite professional quality inspection organizations, media and KOL to join the selection to improve the quality of the lists.”
JD also launched two programs at the conference targeting leading brands and emerging brands respectively, to help the brands grow steadily on JD through cooperation on big data, marketing and content development.