- Apr 16, 2020
- Executive Spotlights
Lei Xu Interviewed by Bloomberg: JD’s Model Wins Plaudits
by Martin Li
“JD will be everywhere,” Lei Xu, CEO of JD Retail, was quoted by Bloomberg in an in-depth feature published today.
“Many people still know JD as online shopping, but we have many businesses and sales that come from all channels, both online and off-line,” the report quoted Xu as saying. “JD will connect with users more closely. JD will be everywhere.”
The report claims that “JD, China’s closest analog to Amazon.com Inc., already serves more than 360 million people — surpassing the U.S. population. Xu now hopes to extend its presence on social media and invest in hot new areas like grocery delivery.”
Further highlights of the report include:
- Xu wants to create more platforms tailored toward different consumers and shopping behavior along the lines of JD’s recently launched Groupon-like discounts app. The COVID-19 pandemic is accelerating that by pushing people toward apps that support multiple functions from live video streaming to chatting, making bespoke or specialized services more appealing.
- JD’s direct-to-consumer sales and in-house logistics model now wins plaudits from analysts for allowing better control of shipping times and quality during China’s COVID-19 outbreak
- The company forecast at least 10% revenue growth for the first quarter. For February, sales of fresh food on JD increased 260% from a year ago, while sales of consumer electronics like handsets and laptops also began to pick up in March. That’s one reason JD’s shares have outpaced China’s largest tech companies this year.
The full version of the report:(https://www.bloomberg.com/news/articles/2020-04-15/china-s-jd-com-turns-to-retail-chief-to-guide-it-through-crisis)