Oct 26, 2021|
JD News Roundup Vol. 22: Singles Day Kickoff, On-demand Expansion and More
Welcome to volume 21 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
RETAIL
JD kicks off Singles Day pre-sale
On October 20, JD opened the pre-sale periods of this year’s Singles Day Grand Promotion. The number of customers who placed orders within the first four hours increased by nearly 40% compared with the first day of the pre-sale last year.
Consumers aged 18-35 accounted for nearly 70% of sales during the first day of the pre-sale. Large appliances took the top category ranking, followed by phones, sport shoes, bags and facial care products. As indication of how robust sales have been, order volume for OPPO phones increased by 227% YOY during the first four hours of the pre-sale.
JD expands on-demand business
JD and Dada Group have jointly launched “Shop Now,” a jointly built new business dedicated to JD’s on-demand consumer retail section. Products with the “Shop Now” icon on JD.com’s app will support one-hour delivery and even delivery within minutes, fulfilled by nearby physical stores with a radius of 3 kilometers. After JD kicked off the Singles Day pre-sale period, the first order delivered by the “Shop Now” service was swiftly fulfilled within 10 minutes.
“The enhanced business will provide a comprehensive portfolio of one-hour, on-demand retail capabilities within JD’s ecosystem, bringing a faster, better and more economical shopping experience to both consumers and partners,” said Huijian He, Vice President of JD.com and Dada Group, Head of JD Omni-channel Home-Delivery Department.
Facilitating “Silver Shoppers”
In honor of China’s “Double Ninth Festival” (September 9 of the lunar calendar, which fell on October 14 of the solar calendar this year), JD held a shopping festival dedicated to products and services for senior consumers. Earlier this year JD had already introduced an app version that is tailored to elderly users’ needs, featuring a simpler interface, larger font size and more—but during the festival, JD ramped up efforts to service its elderly customers.
For example, by working with leading brands to develop customized senior-friendly products based on the C2M (Consumer-to-Manufacturer) model, JD has been able to offer a more appealing product selection for this demographic, including wearable devices, tailor-made cell phones and more.
Earlier this month JD Health and JD Pet jointly launched JD Pet Hospital, offering telemedicine services for pets that will allow elderly pet owners to consult with vets without the hassle of traveling to local clinics. Additionally, JD’s healthcare arm JD Health offered free online medical consultation services for the elderly themselves during the festival.
JD LOGISTICS
JD Logistics to invest 1 billion in green supply chain
JD Logistics announced that it will invest RMB 1 billion yuan in “Green Stream Initiative,” its green supply chain project, during the sixth Global Smart Supply Chain summit held on Oct. 18. The company expects its carbon efficiency to be increased by 35% within five years.
Additionally, in the next two to three years, JD Logistics will adopt the usage of thousands of autonomous delivery vehicles across China. The company will also open its logistics material lab to the public to incubate innovative projects to drive the development of environmental protection materials.
JD TECHNOLOGY
JD offers NFTs based on its own blockchain engine
JD.com’s tech arm JD Technology announced that the company will offer free non-fungible token (NFT) badges to users registered for the company’s annual tech summit JD Discovery (JDD) to be held on Nov. 22. The release will end by Nov. 22, but users can transfer the NFTs afterwards. This is the first time JD.com is launching NFTs, which are based on the company’s blockchain engine JD Chain.
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 Imported New Season’s Cherries from Chile
