Oct 16, 2020|
JD News Roundup Vol. 10
by Ella Kidron
CORPORATE HIGHLIGHT: SINGLES DAY PREPARATION
With Singles Day around the corner, JD has started to announce plans for the festival. This year, it will last nearly one month, and will consist of four key sales periods: pre-sales from October 21st to 31st, special sales from November 1st to 8th, peak sales from November 9th to 11th, and ongoing sales from November 12th to 13th. To guarantee that customers enjoy a good shopping experience during peak session, JD will introduce measures such as 15-day price protection, strict detection of artificial price reductions and refunds for delivery delays.
JD also unveiled a suite of supportive measures for partners including brands and merchants on its e-commerce platform to achieve over two-time year-on-year growth in transaction volume during the upcoming Singles Day shopping festival. Furthermore, JD Logistics will upgrade its merchant support measures in order to ensure seamless delivery to customers throughout the sales period. Some of the highlights of JD Logistics’ operational upgrades for Singles Day include intelligent warehouse management, over 95% stock forecast accuracy and more.
BUSINESS UPDATES
JD becomes first in e-commerce industry to apply creditability to third party store evaluation: Ahead of the annual Singles’ Day promotion, JD has updated its standards for third party store performance evaluation. In an effort to urge merchants to keep improving product offerings and services. To facilitate timely improvement, JD also provides an online performance monitoring system to provide early and real-time warnings to merchants at risk.
JD promotes 20 C2M products: This week JD announced a plan to channel key promotion resources towards 20 top home appliances developed through the company’s consumer-to-manufacturer (C2M) initiative. The highlighted products, which include 10 new products and 10 hot-selling products, span 11 categories such as refrigerators, TVs, water heaters and air conditioners— with 14 leading brands including Midea, Sony, Haier, Hisense and more. C2M has become a major focus of JD’s new products’ strategy this year, and this group of products adds to a list of over 150 C2M home appliances products unveiled on JD this year.
JD’s drones complete trial delivery in Japan’s mountainous region: Rakuten, Inc., a global leader in internet services, has completed a successful demonstration of delivering supplies via drone flight beyond visual range. The drone and technology were provided by JD.com, China’s largest retailer. This marks the first time in Japan that a drone was used to deliver supplies in a mountainous region where the difference in altitude between takeoff and landing locations reached approximately 1600m.
JD Healh welcomed Dr. Xuemin Shi, one of China’s most well-known acupuncture masters as the head of its new acupuncture center which is part of the company’s suite of Traditional Chinese Medicine (TCM) services. Dr. Shi and his team will cooperate with JD Health on multiple fronts including telemedicine, academic research, cross-cultural communications and more, jointly exploring how to enhance the development of TCM and let more people benefit from TCM treatment under the “internet + healthcare” model.
Have a bit more time? Check out some of our recent long reads, data reports and lighter reads here:
- In Depth: Behind Richard Liu’s “Bountiful Harvest”: A look back at the decisions made early on atJD that bring it to today, where its U.S. market value has risen nearly 140% since the beginning of this year.
- Dr. Max Shen, Supply Chain Chief Scientist,unveils the inside story of JD.com’s omnichannel solution during COVID-19: In a recent keynote, Dr. Max Shen introduced the structure and capabilities of JD’s omnichannel solution, and put forward a theoretical framework for the future of supply chain
- JDer Lab #8 with Peipei Fan: JD.com’s more than 280,000 employees range from warehouse workers to nation-renowned doctors, with a wide range of backgrounds and areas of expertise. In the eighth installment of the JDer Lab series, JDer Peipei Fan talks about how her experience at JD has given her the chance to innovate and even change lives in the process.
Aug 6, 2024|
JD.com Ranks #47 on 2024 Fortune Global 500
On August 5, 2024, Fortune released its annual Fortune Global 500 list, where JD.com ranked #47, ascending five spots from last year. This year’s rankings, which recognize the world’s largest corporations by revenue for the 2023 fiscal year, marks JD.com’s ninth consecutive year on the list and underscores its leadership within the industry in China. JD.com reported net revenues of $153.2 billion in 2023.
Since first appearing on the Fortune Global 500 in 2016, JD.com has continuously advanced its commitment to improving customer experience and spearheading innovation. This dedication has cultivated a robust platform featuring a wide array of high-quality products, rapid delivery services, and value-driven pricing. These factors collectively contribute to sustained growth in both user base and engagement levels, which in turn attract a growing number of brands and merchants.
JD.com has consistently enhanced user experience by optimizing its supply chain infrastructure. Since 2017, JD.com has invested nearly RMB 130 billion in research and development to improve supply chain efficiency and cost-effectiveness.
Notable innovations include the implementation of JD Cloud’s AI digital avatars, developed using the ChatRhino large language model, which has improved livestream sales and inventory management for JD merchants. JD’s AI solutions also improve e-commerce functionalities such as content creation, product listings, storefront customization, and intelligent customer service.
With its mission to “Making Lives Better through Technology,” JD.com continues to focus on cost management, operational efficiency, and enhancing user experience. These efforts have significantly boosted user satisfaction and engagement, with the number of third-party merchants on the platform now exceeding one million. These advancements underscore JD.com’s commitment to delivering increased value to its users, industry partners, and society at large.
Aug 3, 2023|
JD.com Ranks 52nd on the 2023 Fortune Global 500
by Vivian Yang
Securing a position on the Fortune Global 500 list for the eighth consecutive year, JD.com proudly announces its rank of No.52 in the newly released 2023 edition, released on August 2, 2023. The annual ranking recognizes the largest companies measured by their revenues. In 2022, JD.com achieved a 9.9 percent year-over-year growth, reaching full-year net revenues of RMB 1.0462 trillion. This notable achievement also marked the first time JD.com surpassed the milestone of RMB 1 trillion yuan.
JD.com’s inclusion on the Fortune Global 500 list since 2016 demonstrates eight years of significant expansion and progress, as illustrated by the following figures:
- Created 45,000 new jobs.
- Expanded its customer base to nearly 600 million.
- Increased warehouses from 214 to over 1,500.
- Amplified the output value of real economies by nearly 4.8 times.
- Successfully reduced the fulfillment expense rate by over 20%.
These numbers reflect JD.com’s relentless pursuit of technological and service innovation in the supply chain sector. Leveraging these capabilities JD.com has bolstered its portfolio of businesses, which spans across e-commerce, logistics, technology, health, industrials, property management, insurance, and more. Furthermore, these capabilities have been instrumental in merging digital and physical economies across various sectors, generating societal value and benefiting a wider demographic.
Supporting Employment and Consumption
By harnessing its robust supply chain capabilities, JD.com is serving millions of merchants both online and offline. The company’s mission is to augment merchants’ operational efficiency and cost-effectiveness while offering consumers a superior shopping experience defined by variety, speed, quality, and value.
JD.com is committed to the welfare of its over 560,000-strong workforce and has invested nearly RMB 50 billion yuan in initiatives such as housing funds, relief, and family support for staff. In May, JD.com announced a significant investment of RMB 6 billion for the “JD Youth City” project, , offering nearly 4,000 furnished apartments and leisure facilities for employees and interns embarking on their careers. Moreover, JD’s extensive supply chain system is estimated to have created approximately 25 million stable jobs across a wide range of industries.
Promoting Digitalization and Rural Revitalization
In the realm of technological innovation, JD.com has invested over RMB 100 billion yuan in research and development over the past six years. The company’s focus has been on enhancing supply chain efficiency and sharing infrastructure and technologies with traditional enterprises to usher them into the digital age. For instance, JD’s consumer-to-manufacturer (C2M) platform has enabled thousands of brands to decrease product demand research time by nearly 80 percent and reduce new product release cycles by nearly 70 percent.
Moreover, JD’s supply chain infrastructure and digital technologies have brought about positive changes in rural areas. The “March to Rich” plan, launched in October 2020, has generated over RMB 1 trillion in output value in rural regions over the past three years, thereby facilitating efficient sales of agricultural products for farmers while empowering them with sustainable development models.
JD.com’s “35711 Vision”
On its 20th anniversary in June, JD.com unveiled the “35711 Vision”, an ambitious roadmap for the next two decades. The vision outlines goals to establish three companies with over RMB 1 trillion in revenue and RMB 70 billion in net profits, positioning five JD companies on the Fortune Global 500, and seeing seven startups become publicly listed companies and attain a market value of RMB 100 billion. JD.com also plans to contribute RMB 100 billion in taxes and create over one million jobs.
Beyond financial milestones. The company aims to deliver substantial societal value, including providing over RMB 3 trillion in benefits to front-line employees, increasing the income of 100 million farmers, aiding 60 million small and medium-sized enterprises in their digital transformation, and establishing a global supply chain infrastructure that covers economies that represent 80% of the world’s economic volume., JD.com is also deeply committed to achieving carbon neutrality, further underscoring its dedication to environmental sustainability.
Collective Upward Trend for Textbook Sales in China on JD
