JD.com, also known as Jingdong had a Singles Day Festival that broke their records this year. They sold RMB 159.8 billion in products from November 1st through the 11th, around $23 billion in American dollars. This was the first Singles Day Festival that Jingdong worked in partnership with brick and mortar retail stores which gave a strong boost to this shopping extravaganza.
Many of the brands sold on Jingdong saw their strongest sales during this festival. This included Pampers, Dell, Dyson, Apple, L’Oreal, and SK-II. The most popular products were from firms based on the United States, Germany, South Korea, Japan, and the Netherlands. The Chief Executive Officer of JD Mall and Chief Marketing Officer of JD.com Lei Xu said that Chinese consumers were looking at the quality of products over price. They are willing to pay more for high-quality branded and imported products.
Jingdong’s Fast Moving Consumer Goods and Foods Business Group managed to sell over 400 million products during this festival. They sold twice as much fresh food versus the 2017 Singles Day Festival. JD.com sold 29,500 tons of seafood, meat, fruits, and vegetables. 12 tons of the food sold was live lobsters from Canada. High-end smartphones were also very popular with consumers and those sales doubled as well from last year.
Another very popular category of items was from the home and life category. This included small appliances, cookware, home decor, furniture, and similar products. Home appliances and consumer products also enjoyed strong consumer demand.
JD.com’s focus this year has been on its “Retail as a Service” initiative. They partnered with physical retail stores this year including Walmart China. They are offering their technology, infrastructure, and national shipping chain to these partners. Over 600,000 physical stores now use Jingdong’s technology and infrastructure to entice customers to shop at their stores, including running Singles Day Festival promotions. Go To This Page for additional information.
Jingdong also opened another 7FRESH fresh food grocery store in Langfang, Hebei Province on the date of Singles Day. They were visited by over 10,000 in just the first hour of being open. Other popular stores they operate that were busy on that day include their automated convenience stores.