JD.Com Pulls Off $24 Billion Shopping Event

According to data that has been released following JD.Com’s annual 618 Shopping Festival, the Chinese e-commerce giant racked up 159.2 billion Yuan in sales over the course of the event, which ran until June 18.

Among the top sales categories were digital products, such as mobile phones and computers, food and beverages. Mobile phone sales, however, were the most notable, with 10,000 units selling within eight seconds, and 100 million Yuan worth sold within 30 seconds on June 18. This was good news for phone manufacturers, as brands like OnePlus, Lenovo and Vivo all experienced a 100 percent growth in sales.

In order to keep up with orders and consumer demand, the online juggernaut reportedly increased its daily order processing efficiency by 1,415 percent in the months leading up to the sale. According to Coresight Research, 90 percent of customer orders made during the festival were delivered within one to two business days.

Coresight Research has also reported that JD.Com’s partners experienced strong revenue growth during the event, with Walmart reportedly increasing its sales fourfold.

While JD.Com pulled off a successful shopping festival, Alibaba Tmall’s participation in the festival could prove challenging for the e-commerce business in years to come. For the 18-day event, Alibaba partnered with more than 100,000 retailers, which saw 70 million customers flock into participating stores looking for a bargain.

Like JD.Com, one of Alibaba’s strongest sales categories was consumer electronics, with the online marketplace surpassing JD.Com’s eight-second sales result, by selling 10,000 mobile phone units in just five seconds, and 100,000 PCs and digital products within 22 seconds.

Despite competition from Alibaba, June has proven to be a big month for JD.Com, with Google announcing a $550 million investment in the Chinese business as its sale event was nearing a close.

“We’re excited to announce a new strategic partnership with JD.com, one of the world’s largest e-commerce companies,” said Karim Temsamani, the president of Google’s Asia-Pacific operations.

According to the tech-giant, its strategic partnership with JD.Com will mean Google can take advantage of JD.Com’s supply chain and expertise, while JD.Com will benefit from Google’s technology.

“We’re thrilled to partner with JD.com to explore new opportunities to make online shopping even easier for consumers around the world,” Temsamani said.

Never miss our best stories. Sign up for Power Retail’s free weekly newsletter and find our daily stories on FacebookTwitterLinkedIn, and Instagram.

Leave a Reply

Your email address will not be published. Required fields are marked *

PowerRetail Extra Enewsletter