Jul 24, 2020|
JD News Roundup – Vol 6
Here we consolidate a selection of the news regularly and give context on why it matters. Have any topics you are hoping we’ll explore or address? Email ella@jd.com
by Ella Kidron
Company updates
In the e-commerce world, “CLO” gets a new meaning. In mid-July, JD welcomed star rocker Wang Feng (who is also husband of actress Zhang Ziyi) as its Chief Livestream Officer. As Chief Livestreaming Officer, he will fully participate in the product selection process and try the products to ensure that only high quality goods are recommended to consumers. JD’s strong supply chain ability will further guarantee consumers’ shopping experience. In his first livestreaming Wang Feng sold over RMB 200 million yuan (US$28.6 million) of products in just four hours, and attracted over 9.15 million views. Get the full story.
JD’s “CLO”, star rocker Wang Feng
JD MRO valued at over US$2 billion: According to the China Enterprise Digital Procurement Development Report 2019, JD Business ranks first among procurement platforms with a market share of 52.3%. JD MRO, the subsidiary platform for maintenance, repair and operations products under JD business, raised US$230 million in its Series A financing round, becoming the most valued MRO platform with the highest post-money valuation of more than US$2 billion. By the end of the first half of 2020, JD Business, JD.com’s enterprise procurement business, has served over 8 million enterprise clients, covering 91% of global Fortune 500 companies.
JD Health driving development in the ‘blue ocean’ of Internet medical services. On July 21st, the Chinese government issued a guideline to further relax limitations on internet medical services. The guideline mentions that on the premise of ensuring medical safety and quality, qualified internet medical services will be included in the national medical insurance scheme. Internet medical services has gained more attention as a result of the pandemic situation and governmental policy support. JD Health is widely viewed as a leader in this space. The platform, which is a subsidiary of JD.com, reached unicorn status about closing a US$1 billion funding found in 2019. Get the full story.
Business specific
Can’t stop, won’t stop – Niche luxury brands continue to join JD at a steady clip. Swedish shoe brand Axel Arigato, French Jewelry Brand Philippe Ferrandis, Japanese jewelry brand AHKAH, Turkish leather goods brand Manu Atelier and Yohji Yamamoto are some of the brands to have joined JD just in the month of July.
JD’s smart customer service can now predict consumers’ intentions. The platform which gained its claim to fame by being able to sense customers’ emotions and respond appropriately is now able to calculate the type of question a customer might ask and match it with the best solution. Inquiring about order status? You’ll receive a prompt regarding delivery time. This is just one of the many examples illustrating how JD is making the e-commerce experience more efficient for customers and merchants alike.
JD Retail and Tencent Games link up. JD Retail has signed a strategic partnership with Tencent Games’ King Pro League (KPL) e-sports tournaments for China’s most popular game, Honor of Kings. The partnership is focused on the development of the tournaments themselves, as well as collaboration in event promotion, user expansion, fan interaction and more. Get the full story.
In other gaming news, The China Digital Entertainment Expo & Conference, also known as ChinaJoy, has partnered with JD’s premium membership program JD PLUS, to provide a virtual online experience for nationwide fans. Under the partnership, JD will become one of the official entrances for ChinaJoy Plus, the virtual version of the event, providing access to livestreaming, online press conferences, product showcases and more.
Home appliances retailer Gome (国美 in Chinese) has launched nearly 20,000 SKUs of JD Super’s first party consumer goods. JD Super will provide logistics and after-sales service. The move comes after JD and Gome formed a strategic partnership focused on product purchase and sale, logistics and financial services and more in late May of this year. Get the full story.
Over 400 JD Computer and Digital stores around China are building a “One-hour Delivery Circle” for customers. Through the program, when customers order digital products, they can place them through JDDJ (JD Daojia, a local on-demand retail platform under Dada Group), and enjoy delivery in just an hour. The move is another example of JD’s commitment to fully integrate online and offline shopping experiences, increasing convenience for consumers.
Last week at JD in photos: https://jdcorporateblog.com/photo-gallery-this-week-at-jd-july-13-july-17/
The Long Read
Have a bit more time? Check out some of our recent in-depth reports.
- JD Plus: A Virtual Club That Gives You Privileges: https://jdcorporateblog.com/in-depth-report-jd-plus-a-virtual-club-that-gives-you-privileges/
- JD & C2M: Uncover Hidden Demand: https://jdcorporateblog.com/in-depth-report-jd-c2m-uncover-hidden-demand/
- com: Building Resilience Through the “Product + Service” Model: https://jdcorporateblog.com/in-depth-report-jd-com-building-resilience-through-the-product-service-model/
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 Courier Helps Customer to Make Mission Impossible Possible
