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JD.com Records Massive Sales During The Singles Day Festival

 

The recent surge in the sales of imported goods is an indication that consumers in China are more sensitive to quality than the price of a commodity or service. This explains why there was an increase in the number of consumers to JD.com, who are willing to pay more for a variety of goods stocked in its online stalls. Most of these products originate from Japan, Germany, the Netherlands, South Korea, and the United States.

 

During this year singles day shopping festival, which was the first to involve other brick and mortar retail partners, JD.Com rewarded its customers with a rare shopping experience. For the first time in the retailer’s history, transaction volumes on Jingdong’s e-commerce platform rose to a record high of RMB 159.8 billion, which is approximately us $ 23 billion. The shopping extravaganza lasted for 11 days, with global brands such as Apple Dell.SK-II, Dyson and pampers recording impressive sales.

 

Over the years, JD has made a deliberate effort to position itself to meet the growing demand and consumer loyalty. Part of the initiative includes an emphasis on zero-tolerance policy on fake goods. The company has also made a massive investment in growing innovation in blockchain traceability to ensure product safety. The reason behind the sale of more than 400 million items is the Chinese uptake of imported products, especially fast-moving consumer goods at the festival period. Compared to the same period last year, the sale of food products such as meat, fruits, Canadian lobsters, and a variety of seafood doubled. Get Related Information Here.

 

Apart from “Fast Moving Consumer Goods” and electronics, more than 25 million products from home and life category were purchased. The leading products included with cookware, home furnishing, decorative and many other related items. The products recorded an impressive consumer demand in all of the JD stores.

 

Jingdong has also entered into a partnership with other retailers. In the agreement, Jingdong has opened its superior online platform to those retailers with an eye on the Chinese and Middle East market. Through its strategy dubbed “Retails as a Service” strategy, Jingdong has currently given to more than 60,000 retail stores access to its technology-driven infrastructure.

 

View Source: https://www.nasdaq.com/symbol/jd/real-time

Richard Liu Qiangdong Entering The Luxury Market As A Competitive Strategy

 

Richard Liu Qiangdong is an experienced entrepreneur who understands what it takes to move the business to the next level of operations. The founder of JD.com had done it previously by moving the original business that he had from the brick and motor platform to the e-commerce platform where the business had never operated. He did that in a professional manner and he has prepared to take JD.com to the next level in the competitive industry.

The fashion company, which sells different types of products such as electronics and fashion through the online platform is contemplating on selling luxury goods that other companies have not been selling. Richard Liu Quiangdong had structured his organization in such a way that it had been selling consumer goods, which every person out there in the market can be able to buy. Consumer goods are available to any person who is willing to buy for consumption purposes.

However, there is a new market that Richard Liu Qiangdong wants to target. The luxury industry has been growing over the last few years with a large number of individuals choosing to buy their goods and services in the high-end retail outlets. People buying their goods and services in the high end market have a higher large amounts of money which is available for use. This market is not concentrated and any organization can enter and make some profits.

Richard Liu has incorporated a strategy where the company will be selling their products to the luxury consumers. The company has packaged its products in such a way that individuals will be receiving their parcel from individuals wearing designer suits and white gloves. The products will also be delivered with a state of the art vehicle, which is not easily found in any part of the city. The products will also be stored in store that is free from dirt and humidity. See This Article to learn more.

People buying their products in the luxury industry wants to be treated in a special way. Richard Liu Qiangdong is treating them in a special way by delivering their products in a high-class motor car and aides wearing designer clothes and white gloves. This is a sign of showing appreciation for the high amount of money that these individuals pay.

 

View source: https://www.wsj.com/articles/chinese-retailer-jd-com-turning-its-logistics-network-into-broader-delivery-service-1539833400