- Oct 15, 2020
- Business Update
JD Unveils Supportive Measures For Merchants During Singles Day Shopping Festival
by Martin Li
JD unveiled a suite of supportive measures for partners including brands and merchants on its e-commerce platform to achieve over two-time year-on-year growth in transaction volume during the upcoming Singles Day shopping festival.
JD plans to kick off the annual online shopping festival on October 21st, which will last nearly one month.
The measures will cover supply chain, logistics, finance and marketing.
“JD will make use of its core strengths in consumer insight, product selection, pricing, procurement, fulfillment and customer-to-manufacturing (C2M) business to help brands achieve efficient and low-cost retail innovation during the festival,” said Hong Bo, vice president of JD, who is in charge of ecosystem business of JD Retail.
JD will help brands sell 100 million C2M products during the festival.
One partner on C2M, Chinese electrical appliance manufacturer Midea has gathered more than 28 million followers and over 2.8 million members on its flagship store on JD. It aims to surpass RMB 4.5 billion yuan in sales on JD during the festival, according to Wei Zhiqiang, manager of its e-commerce business.
JD will also use AI technology to predict hot-selling products during the festival, storing them in delivery stations nearest to potential buyers.
JD’s finance business will offer loans exceeding RMB 10 billion yuan to merchants on JD during the festival.
In the first nine months of this year, each of total 2,004 brands achieved transaction volume of over RMB 100 million yuan on JD, of which 81% were Chinese brands. Merchants on JD saw their trade volume grow by 2.2 times year-on-year during the period.
A young merchant selling specialties in Hubei province on JD, Xiang Chao, joined JD’s campaign to promote Hubei products during the pandemic period and achieved RMB 1.4 million yuan in sales volume in April, equaling a single quarter of 2019. His store’s sales exceeded RMB 10 million yuan during the first nine months of this year.
“I target over two million yuan in sales during the upcoming festival,” said Xiang.
Driven by the stable growth of brands and merchants, JD accounted for 28.86%market share in China’s home appliance retail market during the first half of this year.