Jun 24, 2020|
JD News Roundup Vol. 5
Company updates
JD’s 618 Grand promotion demonstrates resilience of its consumers and showcases opportunity for international brands: As JD’s 618 Grand Promotion (held June 1-18) came to a close, JD.com announced that it had experienced transaction volume on the platform of over 269.2 billion, during the sales period, up more than 33.6% year on year. 618 was originally exclusively a celebration of JD’s birthday, but has since transformed into the largest mid-year shopping holiday, celebrated not only by other players in e-commerce but offline establishments as well. The key words for this year’s Grand Promotion are international brands, lower-tier cities and livestreaming. A more in-depth look at trends and highlights, including a detailed infographic here: https://jdcorporateblog.com/final-report-of-618-jds-in-depth-analysis-of-rmb-269-2-billion-the-face-value-and-whats-behind-it/
From left to right, JD 618 decorations, HKEX celebration ceremony, and JD’s 618 data screen
JD celebrated its 17th anniversary with a secondary listing on the main board of Hong Kong Stock Exchange under the ticker, 9618.HK. To understand more about JD’s plans for the listing, check out the transcript from JD CEO Lei Xu’s exclusive conversation with Bloomberg: https://jdcorporateblog.com/jd-retail-ceo-lei-xus-interview-with-tom-mackenzie-of-bloomberg-at-jds-headquarters-in-beijing-on-june-15-2020/
On June 12th, at an event at JD’s headquarters, simultaneously broadcasted online, JD President of FMCG Omnichannel Carol Fung shared that even in post-COVID lockdown China, paper products are still surprisingly still in high demand. Fung mentioned that every year, the team identifies products in some categories and sets a sales target of RMB 20 million per day. One of those products is a bag of tissues that Fung’s team shipped over 500,000 boxes of on a single day. More highlights from Fung’s session here: https://jdcorporateblog.com/carol-fung-jd-fmcg-omnichannels-role-in-helping-customers-eat-drink-live-better/
COVID-19 related
The last few weeks have seen several COVID-19 cases emerging from an outbreak in Beijing’s Xinfadi wholesale produce market. In order to convenience employees who have to travel around and outside of Beijing, JD has set up designated nucleic acid testing stations for its employees in China’s capital. The move follows JD’s announcement that all of its delivery couriers, truck drivers and cold chain fresh food warehouse employees were undergoing free nucleic acid testing, and underscores the company’s commitment to keep its employees, and by extension customers and partners, safe while the virus still looms. Over 2,000 frontline employees have already completed the testing. JD is the first platform in China to offer online nucleic acid test booking services during COVID-19. Since early on in the outbreak of COVID-19 in China, JD Health has worked with several providers to make booking testing appointments easily available to people in at least 31 cities. The full story here: https://jdcorporateblog.com/jd-establishes-designated-nucleic-acid-testing-center-for-its-employees-in-beijing/
Business specific
JD has announced the first fully-integrated smart and flexible production logistics park in Asia. The warehouse in Tianjin’s Wuqing District, the warehouse is most suitable for fulfilling and managing orders spanning multiple categories at a large scale. In another first for Asia, earlier this month, JD also introduced the very first automated storage and retrieval system (AS/RS) for bulky items in Asia’s e-commerce industry. The system located at the company’s highly-automated Asia No. 1 logistics park in Langfang, Hebei province is one of three new highly automated Asia No. 1 parks JD put into operation during this year’s 618 Grand Promotion. More on this here: https://jdcorporateblog.com/jd-opens-first-automated-storage-system-for-bulky-items-in-asias-e-commerce-industry/
JD’s AR shoes try-on feature has officially come online. As a next step, the company is currently working with Sony Semiconductor Solutions Corporation to develop a function to use AR technology to measure foot size. The function to be released soon will leverage Sony’s ToF (Time-of-Flight) distance measurement technology so that customers can simply use their mobile phones (need to be equipped with a ToF camera) to measure their foot size by scanning the front and side angles of their feet. More on this story here: https://jdcorporateblog.com/jd-com-explores-ar-foot-measurement-tool-for-online-consumers/
JD is supporting the first ever digital London Fashion Week, which will be available free to fashion lovers around the world. JD invited Mr. Hu Bing, the ambassador of London Fashion Week, to have conversations through video interviews with brand partners A-COLDWALL*, Paul Smith and SMYTHSON to bring the latest British fashion insights and products to Chinese customers, and share the brands’ successful cooperation with JD.com. Earlier this year, JD announced its support of the “BFC Foundation Fashion Fund for the Covid Crisis” via its sponsorship of the BFC/GQ Designer Menswear Fund.
Last week’s 618 frenzy at JD in photos: https://jdcorporateblog.com/photo-gallery-this-week-at-jd-june-15-19/
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.
Sales of JD Worldwide Increased 110% Y-O-Y on June 18th
