JD.com achieves $23bn record sales on Singles Day
E-commerce brand JD.com saw a a record RMB 159.8bn (approximately US$23bn) sales over 11 days from November 1, during its Singles Day Shopping Festival.
JD.com has achieved record sales of $23bn this Singles Day
Brands such as Apple, Dell, Dyson, L'Oréal, SK-II and Pampers saw massive sales as products from the US, Japan, Germany, the Netherlands, and South Korea proved popular.
JD also opened its largest offline fresh food 7Fresh store to date in Langfang, Hebei Province, this Singles Day.
Lei Xu, chief marketing officer of JD.com and chief executive of JD Mall, said: “There is a noticeable shift in China toward quality over price, which we see in the growing numbers of consumers who are willing to pay more for branded and imported goods.
"By establishing trust with consumers and brands, thanks to our zero-tolerance policy toward fakes and our innovations in areas such as blockchain traceability for product safety, JD is in a unique position to meet that demand.”
Jianwen Liao, chief strategy officer at JD.com, said: “After more than a decade of building out technology and infrastructure for our own retail business, we will spend the next decade extending our capabilities to enable and empower both online and offline retail innovators.
“We see the future of retail as one without boundaries, and we are working to bring consumers true boundaryless retail, where they can buy whatever they want, whenever and wherever they want it.”
Read more about Alibaba's 11.11 event this year via The Drum's on the ground coverage.