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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