While Alibaba’s Tmall is the reigning Chinese marketplace, JD.com is its big competitor. It was founded in 1998, but the platform did not go live until 2004. It sells a wide variety of goods including electronics, books, clothing, appliances and household items, including products from brands such as Iceland, Clarks, Walmart and Dyson. JD.com is known for its investment in technology and AI. The retailer offers delivery through drones and autonomous vehicles and has nailed its same-day delivery proposition. It is also developing solutions such as checkout-free stores, automated warehouses, retail as a service and AI-powered marketing. The retailer operates a number of tech-enhanced physical stores, including grocery stores 7Fresh. 7Fresh shoppers can pay for purchases with cash, card, WeChat or facial recognition. Moreover, grocery orders are packed on to conveyer belts in the store’s ceilings, to be delivered to people living within a 3km radius in under 30 minutes.
The coronavirus outbreak has sparked fears and headlines worldwide since emerging in the Chinese city of Wuhan at the start of the year.
Chinese etail giant JD.com has unveiled a new concept store in Beijing designed to act as a ‘third space’ for working professionals between their office and home.
JD.com vice president and general manager of JD Retail Solutions Chenkai Ling explains how the Chinese ecommerce giant is redefining itself as a technology and service enterprise, and how management got a wake-up call to put consumers first, not numbers.
The value of product will become less important to retailers in future but product will instead open the door to new sources of value, the bosses of Chinese ecommerce giant JD.com believe.
Chinese ecommerce titan JD.com beat analyst expectations with its second-quarter results, bolstered by sales from its annual 6.18 shopping festival.
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