Aug 11, 2021|
JD News Roundup Vol. 16: JD Partners with Guerlain, Issues 500,00 E-CNY and More
JD News Roundup Vol. 16
(August 2 – August 8)
Welcome to volume 16 of our 2021 weekly digest. Here we consolidate a selection of JD news and give context on why it matters. If you have any questions or topics you are hoping we will explore, please email press@jd.com.
BUSINESS HIGHLIGHTS
JD.com increases stock by 3 times as China faces COVID-19 surge
JD is leveraging its nationwide supply chain advantages to secure the supply of daily necessities to consumers during the new outbreak of the Delta variant of COVID-19 in China, especially in the categories of food, beverage, disinfectant and baby products.
As of Aug. 4, the company has stocked 3 times the normal inventory of rice, flour and cooking oil, etc. JD says that its inventory in Nanjing and Zhengzhou, the medium- and high-risk areas of COVID, can guarantee at least 20 days of demand from local customers.
JD to offer jobs in 150 positions for fresh graduates in 2022
With JD’s rapid business development, the company’s demands for talent continue to increase. On Aug. 3 JD announced that it will provide 150 kinds of job positions for students graduating in 2022, with R&D positions accounting for 50% of the total pool, with new roles in multimodal recognition, distributed computation, quantum computing and more available for fresh graduates for the first time.
As of Mar. 31, the company had approximately 370,000 employees (including non-listed entities), increasing 11,000 comparing with the number by the end of Q1 in 2020.
JD RETAIL
Guerlain launches flagship store on JD.com
Guerlain, a French perfume, cosmetics and skincare house, launched a flagship store on JD.com on Aug 5th. Leveraging JD’s nationwide logistics network and technology, Guerlain will use JD’s premium JD luxury Express service to provide consumers with a highly-personalized and intimate shopping experience, and AR technology for make-up trial online.
The announcement follows the launch of a series of other luxury brands on JD, including BVLGARI, Berluti, Louis Vuitton, and Givenchy under the umbrella of the world’s largest luxury conglomerate LVMH.
New data reveals rise in nighttime e-commerce shopping
China’s e-commerce platforms are witnessing a stampede of consumers rushing to place more orders from 8 to 11 pm, indicating a new shopping habit of the society, revealed by JD Big Data Research Institute.
According to JD’s big data, China’s online sales from 8 to 11pm, May 1 to July 1, had increased over 100% year-on-year. The main spike comes from the healthcare industry, in which there is a quintuple increase in medicine and a triple increase in fitness equipment. The waist machine, yoga resistance belt, and sit-up board are all among the highest selling products at night, suggesting that home work-outs are becoming the routine for many people, especially white-collar workers. Read more of what JD’s data reveals about nighttime shopping in China.
JD HEALTH
JDH Customers can receive nucleic acid test results in as fast as 2 hours
JD Health announced an upgrade of its nucleic acid testing services on August 3 by expanded cooperation with testing institutions, with results issued in as fast as 2 hours.
The service update follows a recent spike of COVID-19 cases in Nanjing and Zhangjiajie. JD’s users can simply type in the keywords “核酸检测” (nucleic acid test) to place an order.
JD TECHNOLOGY
JD and BOC issuing 500,000 E-CNY Worth 20 Million RMB
JD.com and Bank of Communications (BCM) will issue 500,000 E-CNY (also called DC/EP, or Digital Currency/Electronic Payment) packages in Shanghai and Suzhou starting August 6. The packages are worth RMB 20 million yuan in total, with individual offerings of RMB 20 yuan red envelopes and RMB 20 yuan coupons.
Among enterprises, JD Technology was in the first group of technology companies to test the e-CNY in China with state owned banks and connected with online scenarios. It has already supported e-CNY’s multiple test runs in Suzhou, Beijing and Chengdu, gaining experience in operations and solutions, as well as offering new shopping scenarios for customers. Since December 11 last year to June 18, 2021, 450,000 customers have used e-CNY payment on the JD app, with total consumption sales over RMB 100 million yuan.
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.
JD Launches Second China–U.S. Cargo Flight
