- Jun 30, 2020
- Business Update
JD Ranked 52nd on 2020 BrandZ™ Top 100 List
by Ella Kidron
On June 30th, WPP and Kantar released its 2020 BrandZ™ Top 100 Most Valuable Global Brands ranking. According to the survey, JD saw a 24% increase in brand value, in part attributed to “innovation and agility during hard times” such as COVID-19 earlier in the year. Asian brands made up a quarter of the Top 100 brands on the list this year. JD’s ranking moved up 14 places to No. 52 this year. Alibaba, Tencent, Meituan Dianping and Didi Chuxing ranked 6th, 7th, 54th and 64th respectively.
Kantar mentioned in its release that this year’s survey “showed that innovation and creativity are key drivers of growth as people spend more time online” due to the impacts of COVID. JD acted very early on in the COVID-19 outbreak in China, using its technology and supply chain strengths to ensure availability of and access to emergency medical supplies across China as well as fresh produce. From January to June, JD Health has received over 16 million medical consultations through its free medical consultation services, while JD Logistics has continued to ensure supply, even when cities were locked down and roads were closed.
JD’s ability to respond quickly and flexibly to the epidemic situation in China is a reflection of its underlying supply chain strength and the trusted reputation of the JD brand among both consumers and partners alike. While JD is China’s largest retailer, it is in fact the company’s identity as a supply chain-based technology and services company that has enabled JD to have the response that it has had.
JD Retail CEO Lei Xu explained on the company’s first quarter 2020 earnings call that the trust JD’s response inspired in consumers has kept them coming back. He said: “We see more old customers returning to JD and some inactive users on our platform are becoming more and more active. We are waking them up.” Carol Fung, JD President of FMCG Omnichannel, has also explained that after seeing the booming sales of fresh food in the first quarter as a result of many people turning to online for their produce with wet markets closed, the team wondered if this trend would continue or if demand would normalize. However, because of continued rapid growth of new customers in fresh and frozen of over 100%, sales continued to grow by over 100%.
Now in its 15th year, the BrandZ ranking is conducted by leading consulting firm, Kantar, and commissioned by WPP, a leading media company. According to Kantar, the ranking combines rigorously analyzed market data from Bloomberg with extensive consumer insights from over 3.8 million consumers around the world, covering 17,500+ different brands in 51 markets.