JD launched one-hour delivery service with Dada

On 12 October, JD announced “Shop Now,” a new one-hour delivery joint venture with Dada Group.  It will more easily connect JD’s more than 530 million customers with products offering delivery within one hour. Positioned in the core of JD’s omnichannel operation, Shop Now reiterates the company’s commitment to on-demand retail. Shop Now integrates the […]

JD launched one-hour delivery service with Dada

On 12 October, JD announced “Shop Now,” a new one-hour delivery joint venture with Dada Group.  It will more easily connect JD’s more than 530 million customers with products offering delivery within one hour.

Positioned in the core of JD’s omnichannel operation, Shop Now reiterates the company’s commitment to on-demand retail. Shop Now integrates the omnichannel abilities and resources from JD Retail and JDDJ.

The enhanced business will provide a comprehensive portfolio of one-hour, on-demand retail capabilities within JD’s ecosystem, bringing a faster, better, and more economical shopping experience to both consumers and partners.

Products with the “Shop Now” icon on JD.com’s app will support one-hour delivery and even delivery within minutes, fulfilled by nearby physical stores with a radius of 3 kilometers.

In addition to JD’s first-party B2C business model as well as its open platform, Shop Now ushers in a brand-new service model in on-demand retail, which would consequently boost JD’s omnichannel growth.

The launch of Shop Now signifies great progress for JD’s retail business and serves as a token of the full-fledged development of JD’s supply chain layout, which consists of three comprehensive supply chain models, namely the B2C central warehouse model, the origin warehouse model, and the on-demand retail model.

According to the National Bureau of Statistics of China, the market size of Chinese local retail O2O platforms in 2020 reached RMB 150 billion yuan, and it is expected to soar as much as six-fold, making up to 900 billion RMB in 2024. Additionally, the penetration rate of O2O local retail is also estimated to mount from 0.6% in 2019 to 5.8% in 2024.

JD.com highlights in Q2 2021; annual customers grew 27% to 532 million

Jingdong (JD.com) annual activee-commerce customer accounts increased by 27.4% to 531.9 million in the 12 months ended  June 30, 2021, from from 417.4 million a year ago.

See a comparison of annual buyers growth of Alibaba, JD, Pinduoduo here.

JD.com’s 618 Grand Promotion reported outstanding results. During the 18-day sale from June 1 to 18, over 236 brands achieved sales of over RMB100 million. Order requests from 92% of districts and counties and 84% of small towns were fulfilled on the same or the next day.

LVMH group expanded its innovative partnerships with JD.com in the second quarter.

Leveraging the JD.com mini-app, LVMH’s BVLGARI brand provided customers with a new shopping experience featuring a full suite of products including selected jewelry and watches. This represents the first time BVLGARI has collaborated with a third-party online retailer in its history of 137 years.

Berluti, the top luxury menswear fashion house under the LVMH group, also established its first official global flagship store on JD.com during the period.

Several internationally renowned beauty brands recently launched official flagship stores on JD.com including LVMH Group’s Guerlain in early August, as well as LVMH Group’s Givenchy Beauty and Benefit, Estee Lauder Companies’ Estee Lauder, Clinique and Origins, and L’Oreal’s Kiehl’s in July.

The addition of these brands further enriches JD Beauty’s high-quality product suite and ensures a best-of-class shopping experience for customers with services provided by JD Logistics.

On June 18, AiHuiShou, a secondhand electronics transactions and services platform, was officially listed on the New York Stock Exchange under the stock ticker “RERE”. JD.com’s ownership ratio was approximately 33.4% after listing. A

Financial Highlights

Net revenues for the second quarter of 2021 were RMB253.8 billion (US$139.3 billion), an increase of 26.2% from the second quarter of 2020. Net service revenues for the second quarter of 2021 were RMB34.1 billion (US$5.3 billion), an increase of 49.2% from the second quarter of 2020.

Income from operations for the second quarter of 2021 was RMB300.8 million (US$46.6 million), compared to RMB5.0 billion for the same period last year. Non-GAAP income from operations for the second quarter of 2021 was RMB2.5 billion (US$0.4 billion), compared to RMB5.6 billion for the second quarter of 2020.

The operating margin of JD Retail before unallocated items for the second quarter of 2021 was 2.6%, remained stable compared with the second quarter of 2020.

Net income attributable to ordinary shareholders for the second quarter of 2021 was RMB794.3 million (US$123.0 million), compared to RMB16.4 billion for the same period last year.

Non-GAAP net income attributable to ordinary shareholders for the second quarter of 2021 was RMB4.6 billion (US$0.7 billion), compared to RMB5.9 billion for the same period last year.

Diluted net income per ADS for the second quarter of 2021 was RMB0.50 (US$0.08), compared to RMB10.47 for the second quarter of 2020. Non-GAAP diluted net income per ADS for the second quarter of 2021 was RMB2.90 (US$0.45), compared to RMB3.51 for the same period last year.

Operating cash flow for the twelve months ended June 30, 2021 increased to RMB38.9 billion (US$6.0 billion) from RMB26.3 billion for the twelve months ended June 30, 2020.

Free cash flow, which excludes the impact from JD Baitiao receivables included in the operating cash flow, for the twelve months ended June 30, 2021, increased to RMB31.9 billion (US$4.9 billion), compared to RMB22.7 billion for the twelve months ended June 30, 2020.

JD targets China middle-class with membership online platform Yihaodian

Source : China Internet Watch More   

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Once-bustling Inle Lake goes silent

The people who depend on visitors to the popular Myanmar tourism destination have seen their livelihoods hit hard by the turmoil of the pandemic and military coup.

Once-bustling Inle Lake goes silent

Like many who live and work around Myanmar’s Inle Lake, 24-year-old motorboat operator Win Moe Kyaw is struggling to make ends meet under the dual pressure of the COVID-19 pandemic and the military coup.

He told RFA that this year he has seen less than a quarter of the usual customers. In past years, hundreds of thousands of people visited the proposed UNESCO World Heritage Site in Myanmar’s southern Shan State that is famous for its thriving natural beauty, particularly the floating plants that dot the surface.

Following the first wave of COVID-19 and February coup, international and domestic travel dried up and tourism services around the 45-square-mile lake were shut down.

Apart from fishing, some locals rely on a unique type of weaving – deriving thread from the lotus plants that grow in the lake. After collecting the lotus plants, the craftsperson extracts the fibers with a knife and soaks them in water. Weavers then use looms to spin the thread and add dyes to create vibrant colors.

The weavers also depend on tourism to sell their textiles, and not surprisingly the women-dominated industry has been struggling. One weaver, Mya Lay, recalled the way she and her colleagues would work together. "Forty looms are noisy," she said. Now the room she works in is quieter, with little business. "I'm a little bored," she said.

"If no visitors come here, there are no jobs for us at all. Even some business owners here need workers, they are scared to hire people in fear of potential exposure to the virus," Win Moe Kyaw said.

Before the coup, Win Moe Kyaw's wife, Mazin Mar Win, made woven cane mats but that business has been hit hard.

Several people run restaurants or small food stores – many of which have seen customers dwindle because even domestic tourists are unable to visit the lake.

“Visitors are no longer coming. I don't even clean away the spider webs anymore," said Tun Myat Lin, who owns the Golden Moon Restaurant in Heya Village, a now-closed must-visit site for tourists.

Win Moe Kyaw, like other motorboat operators in Sithar village - one of about 150 communities around the lake - has gone to nearby small towns to try to earn money through odd jobs in construction and landscaping and as a laborer and fish monger. But because of nearby gunfire and explosions, he stopped going.

For now, Win Moe Kyaw, his wife and 2-year-old son are just hoping to live and work in safety.

Source : Radio Free Asia More   

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