JD.com is an invention of Liu Qiangdong, which he began from a small booth. He developed an interest in supplying fresh and quality foodstuff at a young age, and he pushed through his education to achieve this dream. Liu Qiangdong had tried business previously by opening a restaurant, but his two employers stole money from the cash registry, making him bankrupt. After University, he opened his booth in one of the bazaars in Zhongguancun and practiced integrity by selling quality products and putting price labels on items. This act made his customers love him, and he kept expanding until he became the great man he is currently. His firm is now a leading online store prominent in Asia, ranking among the top and most technologically advanced stores.
JD.com holds an annual Singles Day Grand Promotion, and the latest one happened on 12th November 2021. The money raised in this event surpassed every other previously raised. Singles Day culminated an 11-day promotion campaign and is now the most successful event the company organized. The function raised a transaction volume of 349.1 billion yuan by the end of the day. This last event happened differently by starting a few hours earlier than usual. In the past times, the campaign started at midnight on 1st November, but they decided to start at 8 pm on 31st October. This move was beneficial to customers since they did not have to sleep late while waiting to make their orders.
On the same day, the company partnered with a Japanese retailer known as MUJI to open a food complex in Shanghai. This is the first time JD.com is operating in Shanghai, and they expect great success. The combination of the MUJI store and fresh food supermarket offers a variety of food solutions to their customers. The CEO of JD retail commented that they are more concerned with a positive impact in the market than the profits they make.
According to the reports from the company, Singles Day, most brands and businesses joined in, and all of them benefited significantly. When the sale began at 8 pm, sales spiked unexpectedly within the first ten minutes. Clothing brands had an eight times increase in sales, and luxury products got a 180% increase. Within the first four hours of the deal, JD made sales beyond those made in the entire Singles Day 2020. The greatest record-breaker was the iPhone sale that made a transaction volume of over RMB 100 million yuan within two seconds. Those amounts were previously unheard of within the first few minutes, let alone seconds.
In this year’s promotion, 77% of the users were from the lower-tier market. They mainly purchased electronics, medicine, and home décor. Their participation increased the sales volume of digital home appliances to rise five times. Even the local JD stores in the lower-tier markets made sales that exceeded those of the previous year within the first two hours. JD also ensured they were taking care of the environment during the 2021 Singles Day by using recyclable packaging and vehicles using ozone-friendly energy. Their carbon emissions decreased by 26000 tons during that day, making the environment a better place.
On the same day, the firm officially opened a supply chain center in Wugong that will incorporate the whole supply chain activities. Purchasing, processing, warehousing, packaging, and customer service will be all under one roof. The new establishment covers a land of 36000 square feet and has significant links to China’s agricultural industry. On 10th November, the place processed over a million orders during the night.
JD Logistics ensures that delivery in the rural areas is the same as that in the cities. They keep adding their logistics parks for easier access and involve automated delivery vehicles. These vehicles boosted the delivery rate, especially during the pandemic, ensuring contactless services and speed of delivery.