Monday , January 25 2021

Three unique day ideas – and a basic figure – Position



JD.com took part in this year's Lord Mayor's Show in London, invited for its role in shaping the retail trade

JD.com took part in this year's Lord Mayor's Show in London, invited for its role in shaping the retail trade

Chinese buyers have come into force for this year's Singles Day, according to JD.com and Alibaba Group updates.

Singles Day sales rose as the Chinese middle class went shopping

Alibaba Group, whose retail ecosystem includes the Tmall and Alibaba markets as well as a number of multi-channel stores. Gross Gross Goods Volume (GMV) of RMB 212.5 billion ($ 30.8 billion / $ 23.8 billion) was paid through Alipay's payment leg during the event. This is 27% higher at the same time last year.

Alibaba's executive vice president, Joe Chay, said: "I think you need to understand Alibaba and what Alibaba does in the long-term cosmic trend that develops in China, which is the rise of the Chinese middle class." US trade war with China added: "This trend will not stop, the trade war or the non-commercial war."

Meanwhile, the top Chinese retailer JD.com said sales worth RMB159.8bn ($ 23bn / £ 17.bn) were made through its business. This was an increase of 26% to RMB 127.1 billion reported last year.

International brands have benefited

More than 40% of buyers from the Alibaba group have been bought by international brands. Alibaba said the top countries selling in China through its platforms were Japan, the United States, South Korea, Australia and Germany. In total, buyers bought from brands from 230 different countries and regions. Alibaba also said Caniniao's logistics network handled more than one billion delivery orders and more than 180,000 brands took part in the event. Of these, 237 made more than 100 million RMBs – including Dyson, Apple, Kindle, Estée Lauder and Lorée Oréal.

JD.com said brands such as Apple, Dell, Dyson, L & Oreal and Pampers saw "impressive sales" with particularly popular products from the US, Japan, Germany, the Netherlands and South Korea . Lei Xu, JD.com's CMO and CEO of JD Mall, said the change had come as buyers were willing to spend more. "There is a significant shift in China towards quality beyond the price we see in the growing number of consumers who are willing to pay more for branded and imported products," he said. "By building confidence with consumers and brands, thanks to a zero-tolerance policy against counterfeiting and innovation in areas such as blockchain traceability for product safety, JD is uniquely positioned to put this demand on ".

The growing importance of online and offline

JD.com reported that it had shared its offline retailer technology, following its strategy of offering retail as a service. He said that more than 600,000 offline stores used their technology and infrastructure to attract customers to their own Singles Day promotions. JD introduced a new game that rewards buyers with points, based on the number of steps they make to visit retailers and walls. These points can then be exchanged for products and prizes. More than 200,000 stores and 200 chips took part in the game. His own portfolio of stores includes the 7Fresh supermarket chain, as well as a range of unmanned convenience stores and JD Retail Experience stores.

"After more than a decade of technology and infrastructure building for our own retail business, we will spend the next decade expanding our capabilities to enable and strengthen both online and offline retailers," said Dr. Jianwen Liao, .com. "We see the future of retail as a borderless one and we work to bring consumers into a real retail market where they can buy whatever they want, whenever and wherever they want."

Daniel Zhang, managing director of Alibaba Group, said that more bricks and mortar dealers had ever participated in Singles Day through upgraded and digitized "smart stores". They included mom-pop stores alongside the RTMart and easyhome businesses Alibaba recently invested in. Alibaba also offered RMB1bn coupons "red" to be spent at the store, while its 88 VIP Loyalty Club members benefited from an additional 5% discount during the event. "About 200,000 smart stores joined on Nov. 11," he said. "As we always say, we truly believe that the first thing about brick and cognac shops that want to go New Retail to do is go digital." For all these retailers, why they actively participated was not because it was a shopping day, but because it was a day to give people a unique experience. "

A number to get away …

As long as Singles Day stands out, it is worth mentioning a figure highlighted by Alibaba: only 17.5% of Chinese retail sales are running online. This is similar to the one in the United Kingdom, where on the internet they accounted for 17.8% of United Kingdom retail sales in September 2018, according to the ONS, and shows that there is plenty of room for expansion in the future.

Image courtesy of JD.com


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