Jingdong Group Co., Ltd. is China’s largest leading one-stop e-commerce platform among overall retailers, and the largest Internet company in the country. The company provides direct access to over 300 Million active customers to a vast range of high-quality products, as well as supports leading international and local brands to tap into China’s online direct sales market. Jingdong started out in 1998 and began online trading operations in 2004. The company was earlier known as 360buy.com Group, and was renamed in March 2013.
The Jingdong Group Co., Ltd. provides customers user-friendly and content-rich mobile apps and access to its website (www.jd.com), through which users can choose from a wide selection of genuine products, which are available at reasonable prices. Products once selected, are then delivered rapidly to the preferred location of the buyer. Jingdong also offers convenient customer services and online payment and cash on delivery options. In order to ensure better customer satisfaction and to have better control over requirements, the company has its own countrywide fulfillment organization and next-day delivery network, which helps to supports both online marketplace businesses and online direct sales.
Jingdong helps to set the standard for online shopping through its assurance to quality, faithfulness and offers an enormous range of products across every major category, including apparel, electronics, fast-moving consumer goods, fresh food products, cosmetics, home furnishing, and appliances to name a few.
JD Worldwide, which is the company’s cross-border platform, allows all global brands to directly sell products to customers in China. In addition, JD.com customers have access to products at the push of a button, which can then be delivered right to the doorstep.
In Q1 2019, the net revenue was 121,081,059 RMB Thousands
Background History of the Company:
1998: On June 18, Richard Liu established the company in Beijing, China, and it was named Jingdong Century Trading Co., Ltd.
2003: started selling products online.
2004: In January 2004, www.jdlaser.com was launched as the company’s B2C online website.
2006: Shanghai subsidiary was established in January 2006.
2007: In January 2007, Guangzhou subsidiary was established
2007: In June, the company began using the domain name 360buy.com, and the company was renamed Jingdong Mall (JD Mall).
2008: JD Mall began transforming the business to a full-fledged e-commerce platform from an electronics retailer.
2010: In December, 360buy.com launched its online marketplace platform, and started an online bookstore. It turned into one of the first e-commerce companies to launch standard same-day and next-day delivery service.
2013: In March 2013, 360buy.com domain name was changed to JD.com
2014: JD formed a strategic partnership with Tencent, In March. In July, JD Finance launched China’s largest crowdfunding platform.
2015: July 20, jD.com announced its US Mall launch, which was a new channel on the company’s JD worldwide cross-border platform.
2016: JD has been working with Walmart partner from June 2016, and publicly launched its drone delivery service in November 2016.
2017: JD.com operated seven fulfillment centers and 335 warehouses covering 2,691 counties and districts across China till June 30.
Highlights in 2018
- As of 30 April, 2018, JD.com had around 170,000 merchants, and a total of 163,543 full-time employees as of 31 March, 2018, on its online marketplace.
- com officially launched “Jingdong Xiaozhi” as its smart customer service robot on 28 September.
- com and Hongdou together launched the “Hongdou-JD.com Experiential Store” at Huiju Wuxi Shopping Center on 1 October 2018.
- com aligned with over 600,000 physical stores to offer O2O shopping experience to consumers from 20 October to 15 November 2018, including its innovative retail formats JD unmanned supermarket, and JD Home. It also includes JD Convenience Store, physical stores and 7Fresh of its cooperating brands such as Qumei and Hongdou.
- Jingdong uses drones to deliver needed medical supplies and consumer goods to customers in remote areas in China
In Q1 2019, there has been a growth of 15% in total active customers YoY
What’s new in 2019?
- JD Logistics launched China’s first rotating package handling system designed for frozen storage at its Wuhan Asia No.1 warehouse.
- On 1 January 2019, the company adopted the new lease standard ASC 842, using the optional transition method.
- On 6 January 2019, the company launched two smart delivery stations in the cities of Hohhot and Changsha, that support the e-commerce giant’s autonomous logistics capabilities.
- In February 2019, JD.com entered into a strategic partnership with the British Fashion Council (BFC), having been named as the exclusive Chinese retail partner of London Fashion Week.
- In March, JD Logistics launched its self-developed visual recognition batch scanning system at its Wuhan Asia No.1 warehouse, thereby greatly improving efficiency and accuracy at the warehouse’s receiving station.
- From 31 March 2019, JD.com operated over 550 warehouses covering a cumulative gross floor area of approximately 12 Mn square meters in China.
- In May 2019, Jingdong company partnered with Jiangsu Xinning Modern Logistics in order to automate its logistic services.
Smart delivery option:
- Customers to get reliable, and ultra-fast delivery in the future.
- Apart from drones, robo-vans are a delivery option of the future.
Jingdong Fun facts:
- Jingdong has 310.5 Mn active customers as of Q1 2019
- 550+ warehouses are located in 46 cities with a total of 12 million Square meters, till end of 31st March 2019,
- 90% of orders are delivered the same day or next day
- As of Q1 2019, there are fullfilment centers in 7 cities of China
- As of Q1 2019, it has front distribution centers in 28 cities, amoung which 22 centers are built after IPO
- It covers almost all counties and districts of china
- JD.com generates approximately 31 Petabytes of data everyday
- Jingdong, ranks first amoung the retailers in China to have a CAGR of 37% till end of 2018
- The number of orders fulfilled by Jingdong in 2015 was US$ 1 Bn and US$ 1.6 Bn in 2016
- The number of delivery stations in JD.com is 539
- It has bulky items warehouses in 70 cities
- Approximately 80% of JD.com orders come via mobile accounts
- JD.com sold RMB 159.8 Bn (US$ 23 Bn) in goods for its singles’ day campaign
- JD.com launched a Joybuy store on Google shopping site in June 2018
- 210,000 number of JD.com merchant presents
- The major platforms like Google, Baidu, WeChat, TikTok, Sina Weibo, Tencent QQ, iQIYI, and many others are part of Jingdong’s audience network.