Aug 12, 2020| JD Retail
JD MRO Acquires VIPMRO, Adding Accesses to Over 100,000 Stores
by Yuchuan Wang
JD MRO, JD.com’s B2B subsidiary for industrial maintenance, repair and operations (MRO) products and services, announced today it has completed the acquisition of VIPMRO, China’s leading procurement platform for MRO products. The acquisition gives JD access to VIPMRO’s over 100,000 offline retail stores.
MRO business covers over 10 million SKUs, many of which are long-tail and non-standard items. Through the strategic investment in VIPMRO, JD is able to speed up its development in the MRO industry while satisfying increasing demands from clients.
VIPMRO will be positioned as a sub-brand of JD MRO and provide its services to offline retail stores. Connecting with manufacturers will help JD build an even more comprehensive and smarter supply chain for MRO products.
In addition, through “Partner Store” plan, JD MRO will provide digital solutions for offline stores in the areas of product selection, transportation and delivery, installation and more, to improve their operations efficiency.
Chunzheng Song, vice president of JD.com and president of JD Business said, “The acquisition of VIPMRO and the launch of Partner Store plan are only parts of JD’s investment in MRO industry. JD Business will further integrate resources in the market related with procurement and provide valuable long-chain services to enterprise clients.”
Jun 1, 2023| In-Depths & Reports, JD Retail
JD.com’s 618 Grand Promotion Kicks Off, Record Number of Brands Reach 100 Million Yuan in Sales within the First Ten Minutes
by Yuchuan Wang and Vivian Yang
On the evening of May 31, 2023, JD.com officially launched the 618 Grand Promotion, the largest mid-year shopping festival in China. In a phenomenal display of consumer enthusiasm, over 23% more brands achieved the RMB 100-million-yuan sales milestone within the first ten minutes compared to the previous year. Additionally, an impressive 60% of newly onboarded merchants soared past their daily average sales volume for May, and 50% of small and medium-sized enterprises (SMEs) reported their sales skyrocketing by more than 200%.
This year’s JD 618 Grand Promotion marks the 20th birthday for JD.com and offers more than ten times the number of items as those featured during the 10-billion-yuan discount program, which launched in March. The vast selection comprises over 200 of the most in-demand items and nearly ten thousand best-selling products spanning a diverse range of categories.
Upon the event’s opening, consumers in over 300 cities across the country received their pre-ordered parcels within a matter of minutes. JD.com’s dedication to excellent service, through its proprietary logistics network built since 2007, ensures the delivery of the same or next-day orders nationwide, affirming its “place an order in the morning and receive it in the afternoon” commitment. Today, the unmatched service covers 10 million products and to consumers nationwide.
JD’s on-demand retail service also showcased its advantages immediately. Within the first ten minutes of the promotion’s launch, customers in over 700 counties and cities throughout the country received their orders. The first on-demand delivery through JD Shop Now arrived at a customer’s doorstep in Changsha city within just nine minutes.
Data highlights from the shopping festival collected between 8:00 PM and 8:10 PM on May 31, 2023 include the following:
- A 23% year-on-year increase of brands surpassing a transaction volume of over RMB 100 million within the first ten minutes of the 618 promotion
- Apple’s transaction volume surpassed RMB 100 million in just one second
- Nearly 50% of small and medium-sized merchants have seen their transaction volume increase by over 200% year-on-year
- Transaction volume for home appliances and home furnishings exceeded RMB 5 billion
- Transaction volume for durian increased by more than three times year-on-year
- Transaction volume for men’s and women’s apparel increased by over 120% year-on-year
- Transaction volume for road bikes and cycling apparel increased by over 100% year-on-year
- Transaction volume for new energy vehicle tires increased by nine times year-on-year
- Within five minutes, transaction volume of JD’s cross-border platform JD Worldwide exceeded the total sales of the first two hours from last year
- A near 400% year-on-year increase in merchant usage of JD Cloud’s Yanxi Digital Human livestreaming service compared with the same period from last year’s Single’s Day promotion
- A 100% year-on-year increase in transaction volumes for 150 skincare and beauty brands, including prestigious names like YSL, Helena Rubinstein, Shu Uemura, Proya, and Lancome
- Transaction volume of luxury brands including Bulgari, Tiffany & Co., Bottega Veneta, and Givenchy increased threefold year-on-year.
- Fifteen watch brands, including Longines, Tissot, and Mido, doubled their sales year-on-year
- Entrepreneur and internet celebrity Luo Yonghao joined JD Livestreaming and sold an apartment at 61.8% of the full price, saving over RMB 1.2 million for the consumer
- Electronic product services saw a transaction volume boost of 160% year-on-year
- Trade-in services for home appliances and home furnishing products experienced a transaction volume surge of over 120% year-on-year
May 23, 2023| JD Retail
JD.com’s 618 Grand Promotion 2023: Industry’s Largest Investment, Record-High Merchants, Straightforward Discount Offering and More
by Vivian Yang and Yuchuan Wang
JD.com has firmly committed to an unparalleled investment in this year’s 618 Grand Promotion, affirming it as the industry’s most extensive, according to Lijun Xin, CEO of JD Retail during a press conference on May 22nd in Beijing for the mid-year shopping festival.
Embracing the mantra of “Diverse Selection, Fast Delivery, High-Quality, and Cost-Effective,” JD.com is dedicated to providing consumers with a seamless, economical, and stress-free shopping experience throughout the festival.
As the first nationwide shopping festival in China post-COVID-19, the event is regarded a bellwether of China’s consumption market and a significant growth opportunity for numerous brands and merchants. JD has seen a record number of participating merchants both online and offline, all gearing up for the festival.
This year, the JD 618 Grand Promotion will kick off its pre-sale period at 8 p.m. on May 23rd, leading into full-scale campaigns commencing at 8 p.m. on May 31st.
Simplified Shopping with “Direct Discount”
It’s anticipated that JD’s “10-billion yuan discount” program via the JD App will feature ten times as many products compared to when the initiative was launched in March. The program now features over 200 highly sought-after items and approximately 100,000 bestsellers spanning all e-commerce platforms.
If JD users discover a product within the “10-billion yuan discount” program priced higher than on other platforms, they’re invited to submit a request to receive double the price difference as compensation from JD.
This year, JD will introduce the “direct discount” pricing mechanism, eliminating the confusion of coupon selection while stacking benefits for long-term users and JD PLUS members.
A Growing Pool of Sellers Offering Diverse Products
Earlier this year, JD.com rolled out the “Spring Dawn Initiative,” attracting an array of new vendors, including farmers, designers, and artisans to join through a series of supportive measures. In the first quarter alone, the number of new merchants on JD’s platform soared by 240% compared to the same period last year.
This year’s festival boasts the highest number of online and offline participating brands and merchants, bringing increasingly diversified products to the platform. At the same time, high-profile brands that joined JD.com in the first half of this year, such as Tiffany, Bottega Veneta, and Tesla, will are set to contribute their most popular and high-quality items for the JD 618 Grand Promotion.
On the physical retail front, tens of thousands of JD’s self-operated stores and millions of partnering stores will participate in this year’s festivities. In addition, on-demand retail service providers, JDDJ and JD Shop Now, will collaborate with over 300,000 brick-and-mortar stores across China to organize an array of promotional activities.
Accelerated Delivery and Post-Sale Services
Launched more than 13 years ago, JD’s same- and next-day delivery service has set industry standards across hundreds of cities in China. For this 618 festival, JD Logistics will strategically place inventory closer to customers, enabling couriers to make doorstep deliveries minutes after an order is placed, with this service available in at least 300 cities in China.
Meanwhile, Dada has bolstered its delivery team for the shopping season, with millions of Dada riders standing by to provide one-hour delivery service for on-demand retail goods in more than 2,000 counties, districts, and cities. This speed also extends to customer service. For example, JD’s decade-old “Lightning-Fast Refund” service can process customer refunds within a second of the application.
JD Technology will exert efforts of its advanced digital infrastructure to facilitate business partners in improving cost and efficiency, including providing 24/7 livestreaming shopping guidance services for 4,000 key brand owners, and digital virtual livestreaming rooms and supply chain finance services for merchants.
Superior Quality and Services
JD.com has always adhered to authenticity since its inception, ensuring customers receive high-quality, guaranteed, and trusted products. Coupled with this commitment, JD.com continuously strives to enhance its after-sales service. Over the past five years, JD Retail has invested nearly RMB 80 billion in user services. Currently, the company offers more than 200 customized services, 80 of which are unique to JD. These include a 30-day price guarantee, hassle-free returns, 180-day exchange without repair, trade-in, 30-day free-exchange for apparel and shoes, 24/7 pharmacy consulting services, and more. Since the creation of the “price guarantee” service in 2008, JD has helped its customers save nearly RMB 8 billion.
During this year’s 618 Grand Promotion, JD will extend its service length and include more categories. Innovative services such as “half-month free tastes” for food items and “half-year worry-free stock up” for home furnishing products will debut at the festival. Furthermore, JDDJ, JD’s on-demand retail platform, will join hands with household brands such as Midea, Gree, Philips, and Arrow to offer integrated delivery and installation services.
JD.com has always prioritized creating a comprehensive, rapid, high-quality, and cost-effective consumer experience.. This enduring commitment continues to shape JD.com’s original vision. Looking forward to the next 20 years, JD.com will continue to optimize and enhance the user experience around cost, efficiency, products, prices, and services.
From the onset, JD.com has dedicated itself to providing a “diverse, fast, quality, and cost-effective” shopping experience. The company will remain true to its business philosophy, centered around cost-efficiency, quality products, competitive prices, and outstanding services for the decades to come.
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