Aug 18, 2021|
JD News Roundup Vol. 17: Chinese Valentine’s Day, Sephora Partnership and More
Welcome to volume 17 (August 9 – August 15) 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 RETAIL
Chinese Valentine’s Day becomes primary driver for gift economy
Purchases of skincare, cosmetic products and jewelry have driven Chinese Valentine’s Day (August 14) to become the biggest driver of China’s gift economy, among all domestic shopping festivals. The search term “send gifts” skyrocketed ahead of the holiday, with men under 35 catalyzing sales spikes for a variety of women’s products purchased as gifts.
Additionally, JD’s data revealed diverging attitudes toward luxury products between age groups, including a strong emphasis on packaging from younger consumers. Read more about our findings here.
JDDJ partners with Sephora to offer 1-hour delivery
Dada Group, China’s leading local on-demand delivery and retail platform, announced that JD Daojia (JDDJ) and Sephora China, the world’s leading beauty retailer under LVMH, have established a close partnership to provide more consumers with convenient one-hour shopping services. When consumers order via the JDDJ app, beauty products will be delivered from the nearest Sephora store within one hour.
The move marks a new milestone for JDDJ in further expanding reach beyond grocery to provide consumers with more high-quality beauty products.
Victoria’s Secret opens flagship store on JD.com
Victoria’s Secret, the world’s leading specialty retailer of intimate apparel, announced the launch of an official flagship store on JD.com on Aug 8 to bring its classic bras, panties, lingerie and T-shirts to JD.com’s consumers.
JD LOGISTICS
JD and Volvo to partner on supply chain
In a new partnership announced August 10, JD Logistics and Volvo Cars will collaborate in building the supply chain service of the middle and high-end auto aftermarket, jointly working on the warehousing and transportation networks of Volvo’s auto spare parts supply in China and more. Delivery lead time for Volvo’s auto spare parts warehouses is expected to improve for over 50% of dealers, thanks to smart replenishment based on JD’s big data. Additionally, Volvo will leverage JD’s logistics network to provide doorstep delivery service for car owners who purchase auto accessories and related products at the brands’ offline dealerships.
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.
JDDJ, JD Beauty and Sephora Collaborate to Deliver Cosmetics Products Within One Hour
