Jun 1, 2024|
Record Growth on JD.com’s 2024 618 Grand Promotion: 10,000+ Brands See Transaction Volume Increase by Over 500% in First Four Hours
JD.com officially kicked off its annual 618 Grand Promotion, marking the company’s anniversary and China’s largest mid-year shopping festival, at 8:00 PM on May 31. Brands including Apple, Midea, Haier, Xiaomi, China Gold, Huawei, Little Swan, Gree, Hisense, TCL, and others quickly saw transaction volumes surpass RMB 100 million. By midnight, over 10,000 brands experienced a more than fivefold increase in transaction volume. Additionally, the number of new merchants with transaction volumes exceeding RMB 1 million grew by 45 times compared to the previous month.
In the first hour between 20:00 and 24:00 alone, orders in the “10-Billion-Yuan Discount” channel increased by 50% year-on-year The “9.9-Yuan Items with Free Shipping” channel attracted over 100 times more shoppers, with more than 75% of these consumers coming from third-tier or lower-tier cities.
During the first four hours, the number of viewers for JD’s livestreaming increased by 460% year-on-year, and orders from livestreaming sessions hosted by JD’s professional procurement and sales teams surged by 300% compared to Single’s Day in 2023. JD’s technological infrastructure, particularly the “Digital Representative” solution powered by JD Cloud’s ChatRhino, was utilized in over 5,000 brand livestreaming rooms.
JD.com’s nationwide intelligent logistics centers secures fast delivery for consumers. By midnight, the majority of the orders had been processed and shipped by JD’s automated warehouses. Consumers in multiple cities began receiving their orders within ten minutes, while consumers in hundreds of cities will receive their products on the morning of June 1.
Key Data Highlights from 8:00 PM to Midnight on May 31, 2024:
- AI Hardware Products: Transaction volume of AI computers, AI mobile phones, and AI learning devices increased by 260% year-on-year in the first hour year.
- Emerging Product Categories: Transaction volume of products such as folding screen phones, open-ear headphones, smart health watches, OLED displays, NAS network storage, and high-power charging devices grew by over 100% within the first hour.
- Home and Home Appliances: Transaction volume of new products from over 700 home and home appliance brands increased by over 100%.
- Personal Care and Baby&Mother Products: brands like L’OCCITANE and Pampers saw a sixfold increase in transaction volume year-over-year.
- Fashion and Beauty Brands: Transaction volume for Nike, UR, and other over 2,800 other fashion and beauty brands increased by over 100% year-on-year.
- Luxury Brands: Transaction volume of LOEWE increased by 250%,, Tiffany & Co. by 100%, and Alexander Wang by 450% year-on-year.
- Electric Bike Services: Orders for battery installation and recycling services for electric bikes increased by 350% year-on-year.
- Medical Devices for Seniors: Transaction volume of medical devices designed for seniors increased by 130% year-on-year.
- Cross-Boarder E-Commerce: More than 180 brands on JD Worldwide, JD.com’s cross-border and import business, saw transaction volume increase by 100% year-on-year.
- Imported Alcohol: Transaction volume for Penfolds and Remy Martin increased by four times year-on-year.
- ochama in Europe: JD’s omni-channel retail brand in Europe saw a 276% year-on-year increase in orders in the first hour.
- Digital Representative: JD Cloud’s LLM, ChatRhino, was applied in over 5,000 brands’ livestreaming rooms.
- JD Logistics in Hong Kong and Macao: Orders increased by approximately 100% year-on-year.
Sep 27, 2024|
Leveraging AI to Drive Innovation, Reduce Costs, and Create Jobs: Insights from JD.com’s Chief Economist
At the 2024 FORTUNE Global 500 Summit in Guangzhou on September 26th, Dr. Shen Jianguang, Chief Economist of JD.com, shared how the company utilizes AI to transform its operations across retail, logistics, and more, while driving significant workforce expansion. “By integrating advanced technologies throughout our business, JD.com has more than tripled its workforce in the past six years from 180,000 to 620,000, all while increasing salaries,” Dr. Shen explained during the panel discussion titled “‘Changes and Opportunities’—Chief Economists’ Perspectives.”
AI tools have enabled JD.com to boost efficiency and elevate the customer experience. For example, JD’s AI-driven digital human livestream hosts have helped over 5,000 brands increase off-peak hours’ sales conversion rates by 30%. Additionally, AI-powered customer service representatives offer more personalized support, and logistics couriers use AI to deliver packages faster and with greater sustainability.
JD.com’s customer service representatives
“The competition in China is so fierce, and that’s what drives innovation—you have to innovate to survive,” said Dr. Shen, underscoring the role of innovation in reducing costs and increasing productivity. This is especially crucial in China’s e-commerce landscape, where consumers are becoming more price-conscious. “Consumers are looking for the ‘extreme quality-to-price ratio,’ meaning they want high-quality products at lower prices,” he added. At the same time, Dr. Shen noted a growing trend in rural and lower-tier markets, where significant growth opportunities are emerging.
Dr. Shen also discussed China’s recent economic stimulus packages. “Policy initiatives are important. When people perceive a shift in policy, the market responds,” he said, referring to the government’s subsidies for home appliance trade-ins introduced earlier this year. This program has stimulated demand for affordable, high-quality products, as reflected in the increased sales of subsidized items.
Guangzhou, the host city for the summit, launched a new round of consumer goods trade-in subsidies on September 1st, positioning online platforms like JD.com as essential providers of seamless trade-in services. Over 800 home appliance brands have partnered with JD.com in Guangzhou, offering more than 8,500 products. Additionally, JD.com is working with its brand partners on a Customer-to-Manufacturer (C2M) model, leveraging consumer insights to drive innovation for more tailored products.
JD.com provides one-stop trade-in services for home appliances and home goods
The panel discussion featured Dr. Shen alongside Minggao Shen, Global Chief Economist at GF Securities, and Robin Xing, Chief China Economist at Morgan Stanley, with FORTUNE Editor-in-Chief Alyson Shontell moderating. The panelists agreed that while AI is still in its early stages, its potential is vast. With China’s stimulus policies and a functioning capital market, the private sector is well-positioned to unlock considerable industrial and social value.
JD.com ranked #47 on the 2024 Fortune Global 500, moving up five spots from the previous year. Guided by its mission to “Make Lives Better through Technology,” the company remains committed to cost management, operational efficiency, and enhancing user experiences, while continuing to invest in employee development and upskilling to foster both business growth and workforce advancement.
(vivian.yang@jd.com)
Sep 21, 2024|
JD.com Launches 2024 Agricultural Specialties Festival, Strengthening Commitment to Farm-to-Table Excellence
In celebration of the 2024 Chinese Farmers’ Harvest Festival, JD.com has officially launched its Agricultural Specialties Shopping Festival with a high-profile event in Beijing on September 19. Showcasing 107 categories of premium agricultural products from over 2,000 production zones across China, JD.com is supporting the festival with a substantial 1.5 billion RMB (USD 213 million) investment in subsidies and marketing initiatives. This move is part of JD’s aim to solidify its position as the leading platform for China’s finest agricultural goods.
Now in its third year, the festival runs through September 30 and highlights JD’s commitment to promoting high-quality, locally sourced agricultural brands. JD is offering a series of exclusive promotions featuring standout products such as Inner Mongolian grass-fed lamb, locally grown macadamia nuts, and Wuchang rice. To further elevate these offerings, the festival will feature harvest celebrations and product launch events that showcase China’s rich agricultural heritage.
Through its supermarket division, JD Super, the company is leveraging its self-operated business model to ensure the highest standards of quality through its “Source-Selected” product range. JD’s innovative “Direct from Source” model reduces supply chain friction, speeding up the delivery of farm-fresh goods directly to consumers’ tables. The strict quality assurance process includes origin verification, warehouse inspections, random audits, and unannounced spot checks to guarantee safety, reliability, and exceptional product standards. Currently, JD’s “Direct from Source” program offers over 16,000 types of agricultural products.
Since 2014, JD has been implementing its rural “3F” strategy—Factory to Country, Finance to Country, and Farm to Table. By building a robust logistics infrastructure across the country, JD has empowered rural farmers to harness modern supply chains, increasing the value of their agricultural products. This year marks the 10th anniversary of JD’s rural development initiative, which has led to the creation of numerous specialty agricultural brands, including “Running Chicken,” “Swimming Duck,” “Flying Pigeon,” and “Suqian Hairy Crabs.” These programs have played a pivotal role in lifting farmers in remote areas out of poverty and into economic prosperity.
In 2021, JD launched its ambitious “March-to-Rich” initiative with the goal of generating over one trillion RMB in rural economic output. JD surpassed this target in June 2023, three years ahead of schedule. This initiative has directly benefited millions of rural households, increasing incomes and laying a solid foundation for long-term economic growth.
(vivian.yang@jd.com)
JD.com’s 2024 618 Grand Promotion: Boosting Consumption Through Tech and Service Innovations
