Jan 5, 2021| JD Retail

The Year in Review: JD Auction’s Six Bidding Fields in 2020

Vivian Yang

by Vivian Yang

Under COVID-19 in 2020, the auction industry, like many other industries that have gone digital, has been reaping the benefits of the internet for expansion. This year on JD Auction, JD’s online auction site, more than 15,000 users won their house biddings, about 4,500 people got their cars, and more than 60,000 items were auctioned starting from RMB 1 yuan and sold for a good price. Here are the six main bidding fields that JD Auction offered products in the past year:

1. Houses

Houses have been the most popular auction items on JD.com. In 2020, 15,224 houses were successfully sold through JD’s legal auction platform. A commercial building in Chengdu, Sichuan province, eventually sold at RMB 1.24 million yuan after the bidding started at RMB 1 yuan.

In the meantime, JD’s services including VR house tours, legal consultancy, big data-powered house appraisal and more provided extra support to facilitate users to make wise house buying decisions online.

2. Cars

More than 4,500 vehicles were auctioned on JD this year, including 42 luxury cars entrusted by Shenzhen Public Security Bureau, amassing more than RMB 2.92 million yuan. In addition, 144 buses were auctioned in a dedicated online vehicle auction event with 100% conversion rate and 157% premium rate.

Watching and bidding for used cars on JD is particularly exciting as there are oftentimes cases in which a BMW valued at more than RMB 100,000 yuan would be sold at only 30,000, and an over RMB 10 million yuan worth Rolls-Royce went for one-tenth of its original price.

3. Luxury products

Men’s watches were the favorite items among the more than 10,000 second-hand luxury products sold on JD Auction in 2020, and took up about one-fifth of the overall luxury item sales. For instance, the auction of a Rolex submariner automatic mechanical stainless watch attracted near 4,500 onlookers online and was finally sold at a high price of tens of thousands yuan.

Another commemorative watch adorned with the iconic ink wash painting of horses by the famous Chinese painter Xu Beihong (1895-1953) was sold at RMB 5,029 yuan, nearly half of its original price of RMB 9,860 yuan. What’s more, the buyer also got a surprising gift of a calligraphy painting by Xu Beihong’s wife Ms. Liao Jingwen (1923-2015) who was also a well-known artist in her own right.

4. Big-ticket auction for air, sea and road

Through close collaboration with courts and customs at different levels in China, JD Auction made big-ticket auctions more transparent and effective online. The auction of the He-Hui Expressway, an unfinished road construction project, became the most expensive deal of the year, closing at over RMB 3.1 billion yuan.

In addition, the LJ Airline at RMB 800 million yuan, a hydropower station at RMB 260 million yuan and a ship building company with right to use a coastal area at RMB 850 million yuan, all found their new owners on JD Auction.

5. Arts and crafts

Sifting for treasures on JD Auctions has become a habit for many JD customers. A total of more than 50,000 treasures were sold on JD last year including tea and wine, purple sand ceramics, antiques, jade jewelry and more.

Cooperated with JD Foundation, JD Auction held a charity event in last November to promote China’s intangible cultural heritage. All the funds received from the auctions of crafts masters’ works were used to help women in impoverished areas and ethnic minority groups to encourage their pursuits of art and cultural creations.

6. Everything is auctionable

Besides the abovementioned conventional auction items, there were also a number of eye-opening auction deals made on JD Auction last year, such as 11.4 tons of rice, 3,160 tons of sugars, 23.74 tons of dried mung beans, 13 tons of raw jade materials, a Sharp GF-777 cassette recorder and more.

Furthermore, to commemorate the fight against the pandemic in 2020, JD Auction organized a special auction campaign in September to solicit and auction memorabilia related to the COVID fight, in which many touching and inspiring stories emerged and became a source of hope and encouragement for many more people.

(vivian.yang@jd.com)

Dec 25, 2024| JD Health, JD Retail

JD Report: Five Health Consumption Trends for 2024

Vivian Yang

On December 24th, JD.com’s Consumption and Industry Development Research Institute, in collaboration with HealthInsight, a media think tank specializing in the health sector, released an insightful analysis of China’s 2024 health consumption landscape. The report outlines five key trends in the health industry, highlighting the increasing consumer demand for proactive health management and the industry’s evolving dynamics.

The Rise of Weight Management Solutions

Modern lifestyles have contributed to rising obesity rates with 34.3% of Chinese adults classified as overweight and 16.4% as obese. Obesity is associated with over 200 diseases, posing significant health risks. The introduction of semaglutide, a GLP-1 receptor agonist for long-term weight management, in China marks a promising development. The market for GLP-1 weight loss drugs in China is projected to exceed 37.852 billion RMB by 2030. On JD.com, searches related to “weight management” have increased more than 3.8 times year-on-year, with growing demand for diet products and home fitness equipment such as kettlebells and leg trainers.

Addressing the Growing Mental Health Concerns
With 95 million people in China affected by depression, mental health is an increasing concern. Consumers are turning to books, stress-relief toys, online consultations, and meditation to manage stress. On JD.com, searches for “mental health” have doubled, with significant interest in emotional release tools and psychological books. JD Health’s Internet Hospital now offers specialized clinics with over 2,300 counselors addressing issues like anxiety, depression, and sleep disorders.

The Booming Sleep Economy
Over 300 million Chinese experience sleep disorders, often due to irregular schedules. The sleep economy is booming with the market size reaching 495.58 billion RMB in 2023 and expected to surpass 600 billion RMB by 2027. JD.com has seen a 210% increase in searches for sleep aids, with high demand for sleep headphones, eye masks, and nutritional supplements. Sales of sleep-enhancing pillows and mattresses have also grown significantly.

Everyday Integration of Medical Devices

The home medical device market is expanding as consumers increasingly monitor their health independently. Products like heart rate-monitoring smartwatches and glucose meters are becoming household staples. This year, JD.com data shows that purchases of vision care devices and smart health monitoring equipment have tripled. The market for home medical devices is expected to reach 380 billion RMB by 2025.

Shifting Focus to Preventive Health Management

Emphasizing early screening and intervention, JD.com has seen a significant rise in orders for health services such as genetic testing and early cancer screening. These trends highlight a shift from treatment to prevention, driven by technological advancements and policy support. As consumer awareness grows, health consumption is becoming a major force in economic development, presenting opportunities for rapid growth in the health industry.

In conclusion, the 2024 health consumption landscape is characterized by a strong shift towards proactive health management and the integration of technology into everyday health practices. These trends not only reflect changing consumer priorities but also indicate significant growth opportunities for businesses in the health sector. JD.com remains committed to supporting these developments by providing innovative products and services tailored to the evolving needs of consumers across the dynamic health sector.

(vivian.yang@jd.com)

Dec 20, 2024| JD Retail

Dada NOW Receives “Leading Restaurant Empowerment Platform” Award at the 10th China Catering Innovation Conference

Vivian Yang

On December 19, Dada NOW, China’s leading local on-demand delivery platform under Dada Group, was awarded the “Leading Restaurant Empowerment Platform” accolade at the 10th China Catering Innovation Conference in Shanghai. Celebrated for its innovative 4D Service Standards, Dada NOW delivers professional, flexible, intelligent, and customizable services to top food and beverage brands including CHAGEE, KFC, Luckin Coffee, McDonald’s, and Pizza Hut, garnering extensive acclaim within the catering industry.

4D Service Standards

The “Leading Restaurant Empowerment Platform” award honors platforms that provide comprehensive and professional services to restaurant businesses. Leveraging years of experience with leading restaurant brands, Dada NOW has crafted its 4D Service Standards to effectively address delivery challenges and enhance service quality. These standards include:

Dedicated: Integrated solutions for warehousing, picking, and delivery.
Dynamic: Tailored delivery solutions for diverse vendor scenarios, including store-stationed and crowdsourced rider options.
Data-driven: Efficient data management systems utilizing AI technology for order dispatching, fulfillment timeliness, and quality inspection.
Designable: Customized services for large supermarkets and restaurant merchants to bolster brand value.

Fast and Accurate Delivery

In the fast-paced food delivery sector, Dada NOW’s survey data indicates that 63% of brand merchants and consumers expect timely delivery, 21% prioritize location accuracy, and 9% value punctual pickup. Dada NOW completes delivery in as quickly as 9 minutes, with a 99.5% on-time completion rate and a 98% accuracy delivery rate. Real-time order matching is achieved in as fast as 0.3 seconds, ensuring fast and accurate service.

Unlike delivery providers that only focus on a single merchant type, Dada NOW provides both supermarket and restaurant deliveries. The differing peak times between these sectors allow for capacity complementation, enhancing efficiency and reducing costs. With a nationwide network of over a million riders and an industry-leading on-demand delivery model, Dada NOW has executed over 900 million route plans, swiftly allocating resources during peak periods such as lunch and dinner rushes, new product launches, and promotional events.

Customized Solutions for Merchants

To meet the strong customization needs of brand merchants, Dada NOW can offer bespoke services for each store, integrating its delivery capacity, products, and technological solutions. A notable example is the partnership with Sam’s Club, for which since 2017 Dada NOW has developed customized solutions in delivery capacity models, co-branded equipment, rider training, and system integration. This collaboration has achieved nearly 100% coverage of customized rider equipment such as helmets, uniform and delivery containers, and provides excellent customer service experiences. This highly effective collaboration demonstrates Dada NOW capabilities that are also transferrable to the restaurant sector.

Luckin Coffee, a long-standing partner of Dada NOW, exemplifies the high standards in the coffee and tea beverage sector, achieving a “30-minute delivery rate of 99.9%” to maintain peak freshness delivered to customers’ doorsteps. Dada NOW’s flexible rider network effectively manages peak demands and large order volumes during product launches and promotions through an intelligent order dispatching system, ensuring optimized delivery routes and careful handling to prevent issues like coffee spillage. Since 2023, this partnership has earned Dada Now several accolades from Luckin Coffee, including the “Best Strategic Cooperation Award” and “2023 Outstanding Delivery Partner,” with rider Tu Yanping being recognized as one of four “Annual Gold Riders” nationwide.

Dada Group operates two core businesses: JD NOW, formerly known as JDDJ, an instant retail platform, and Dada NOW, a local on-demand delivery service. Leveraging its extensive crowdsourced delivery network of millions of riders, Dada NOW provides a comprehensive service system open to merchants and individual senders across various industries and product categories. The company’s two platforms operate independently and collaboratively.

(vivian.yang@jd.com)

JD Private Label Helps Food Company Grow