Nov 13, 2020|
JD Singles Day Wrap-up #8: Diversified Luxury Demands Boost Sales on JD.com
by Hui Zhang
Diversified consumer demands for luxury products boosted sales on JD.com during the Singles Day period with sales of luxury products doubling year-on-year. Shoppers’ enthusiasm for luxury products gave a hint to the economic recovery in China after the pandemic.
JD’s data showed that sales of apparel, shoes, luggage and bags increased by 116%, 132%, and 93% respectively year-on-year. High-end products such as Fabergé’s jewelry; Veja’s white leather sneakers; Stefano Ricci’s leather belts, which are popular among male consumers in Beijing, Shanghai and Guangzhou; and Ami Paris’ sweaters were all widely welcomed by JD’s consumers, with Ami Paris’ classic sweaters sold out only in 30 minutes.
Luxury consumers are getting in on the game earlier. The number of consumers making their first luxury purchase on JD increased 279% YOY, and Generation Z consumers entering the world of JD Luxury increased 200% YOY.
Kevin Jiang, President of International Business, JD Fashion and Lifestyle, said: “We are seeing more diverse demand from our consumers. The mainstream luxury brands, such as Prada, Ferragamo, Burberry, Rimowa, Hugo Boss, and Coach, continue to perform strongly, but new brands, including designer brands, such as Manu Atelier, Ami Paris, and Stone Island, and also brands with strong character, such as Faberge and Stefano Ricci, are also showing amazing potential.”
Five more high-end brands, JW Anderson, Anya Hindmarch, Queen Anne Silver, Bohemia Crystal, and White Mountaineering, have all launched official flagship stores on JD.com during the Singles Day period, with some of them choosing JD as their first e-commerce partner in China. So far, JD has established partnerships with over 200 luxury brands, including Prada, Miu Miu, Delvaux, and Salvatore Ferragamo.