JD.com racks up $38B in sales in annual online shopping fest

  • “JD.com’s annual “618” online shopping extravaganza racked up a total of 269.2 billion yuan ($38 billion) worth of transactions, as consumers splurged during China’s first major e-commerce sale since the pandemic began.
  • This year’s tally was 33% higher than last year’s 201.5 billion yuan in sales. It reflects an increasing shift to online shopping as consumers shun brick-and-mortar stores.”

https://www.google.com/amp/s/retail.economictimes.indiatimes.com/amp/news/e-commerce/e-tailing/jd-com-racks-up-38b-in-sales-in-annual-online-shopping-fest/76461842

China’s Alibaba, JD report booming Singles Day sales

  • “Chinese e-commerce giants Alibaba and JD.com reported nearly $60 billion in sales Monday part way through Singles Day
  • Alibaba said sales by merchants on its platforms totaled 221.6 billion yuan ($31.7 billion) by 6 p.m., passing last year’s total of $30.8 billion.
  • Online sales of goods rose 16.8% over a year earlier in the first nine months of 2019 to 5.8 trillion yuan ($825 billion)
  • E-commerce made up 19.5% of Chinese consumer spending, compared with about 11% of spending for American consumers.”

https://www.google.com/amp/www.chicagotribune.com/business/sns-bc-as–china-singles-day-20191111-story.html%3foutputType=amp

AI Investments Are Going to Keep Paying off for JD Stock

  • “According to eMarketer, retail eCommerce sales in China will increase from $1.52 trillion in 2018 to $4.10 trillion by 2023. Therefore, it is entirely likely that JD.com will continue to witness 20% plus top-line growth in the next 3-5 years.
  • Drone deliveries will enable eCommerce to reach relatively remote areas. Approximately 577 million people still live in rural China and this presents a big opportunity for JD.”

https://www.google.com/amp/s/investorplace.com/2019/10/ai-investments-paying-off-jd-stock/amp/

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