There is a great deal of news coming out about the largest e-commerce company in China. The company does business with the skyrocketed public under the name of JD.com. For Jingdong (JD), 2020 proved to be a noteworthy year for a few reasons.
The firm recently reported its second-quarter earnings for 2020. In addition, it marked the eighth anniversary of the launch of JD Logistics. The third item of note is that the Family Doctor endeavor began during the same year.
Here is the most current JD.com news. The reported news for net revenue was RMB 201.1 billion or US$ 28.5 billion. This is an increase of 33.8% over the same period of the previous year. In the general merchandise category, the revenue was RMB 64.0 billion or US$ 9.1 billion which increased by 45.4%. That was the largest rate of growth in nine quarters. The categories that led the growth were a supermarket, healthcare, and others.
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The firm’s customers base also increased over the prior 12 months. It reached an all-time high at 417.4 million resulting in an increase of 29.9%. This number reflects active customers on the JD website. With such a vast array of consumer products that are available, this JD.com news shows the large number of Chinese consumers who enjoy the convenience of buying merchandise from this enormous online company. When the coronavirus pandemic began in a region in China and quickly spread to others, their existing and many new customers relied on Jingdong which remained open for business.
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The company was launched in Beijing approximately 22 years ago. Its founder was Richard Liu, a Chinese businessman, and entrepreneur. He is the Chairman of the Board of the company and is actively involved in its operations. One of his corporate goals from early on was to ensure that his company excelled in customer service. Over the years, Mr. Liu has been devoted to making improvements in Logistics. The products leave the warehouses promptly, and they can arrive at the customer’s home as quickly as two hours or in one or two days.
Richard Liu was in the retail business at the beginning of his career. He opened an electronics store and eventually grew his business with many more locations. The chain was very successful until a deadly virus started in China. People were afraid to come out, and this was the impetus that changed the course of his business. Mr. Richard Liu created JD.com, so his customers could shop on the internet. Today, thousands of products, as well as many services, are marketed on JD.com.
Thousands of new employees were hired in 2020. There are JD.com warehouses all across China. The firm works with many vendors directly and, when these companies sell their merchandise on Jingdong, they can virtually open their own stores on this massive site. Customers know that they are buying authentic merchandise from the actual manufacturer, and they know that everything is authentic. Richard Liu understands that his customers are very brand loyal, and fake merchandise is not permitted.
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