In brief
JD.com reports that its 2024 Singles Day promotion recorded year-on-year growth in transaction volume, orders and users during the period from October 14 to October 31. The company says more than 16,000 brands achieved 300% growth in transaction volume, and over 17,000 merchants recorded order volumes five times higher than a year earlier. It also reported gains across electronics, home appliances, apparel, beauty, groceries, health products and automotive sales. Rural and county-area transaction volume rose by more than 50%, according to JD.com. The report also covers activity in Hong Kong, Southeast Asia and Europe, along with growth in financial and business services. The promotion is scheduled to continue with further campaigns through November 11.
Key takeaways
- JD.com reported double-digit year-on-year growth in transaction volume, orders and user numbers through October 31.
- More than 16,000 brands recorded 300% growth in transaction volume, the company says.
- Rural and county-area transaction volume increased by over 50% year on year.
- JD.com reported growth across product categories and business services, including insurance, industrial procurement and livestreaming.
November 4, 2024 -- By 9:00 PM on October 31, JD.com’s Singles Day Grand Promotion (also known as Double 11), recorded year-on-year double-digit growth in transaction volume, orders, and user numbers, measured from 8:00 PM on October 14 to 9:00 PM on October 31 compared to the same period last year. Midway through the shopping festival, over 16,000 brands achieved 300% year-on-year growth in transaction volume. The number of brands exceeding RMB 100 million in sales increased by over 400% year-on-year (YoY), while more than 17,000 merchants saw their order volumes increase five times compared to last year.
With this year’s festival theme, “Affordability and Quality,” JD.com’s “10-billion-yuan discount” program expanded its product selection more than fourfold YoY, drawing a high volume of users. Apparel and cosmetics saw a surge, with new users rising over 140% YoY, while supermarket orders increased by more than 40%. Consumer electronics and home appliances set new sales records, while JD’s livestream channel saw a 245% increase in orders YoY.
JD.com’s reach has extended into China’s rural areas. Supported by continued investment in logistics infrastructure, transaction volume in rural and county areas grew by over 50% YoY. And over 90% of counties have utilized trade-in services.
As November begins, the Singles Day Grand Promotion will continue with additional campaigns and sales activities, concluding on November 11.
Key Data Highlights from 8:00 PM October 14 to 9:00 PM October 31, 2024:
- Electronics Lead Growth: Transaction volumes for gaming laptops rose by 120% year-on-year. Emerging products, including AI smartphones, 4K projectors, and track sockets, experienced 100% growth in transaction volume, while OLED monitors and open-ear headphones saw fourfold growth. AI learning devices and 3D printers surged by over 10 times. JD’s offline electronics stores also saw a doubling of visitor numbers.
- Home Appliance Sales Surge: Nearly 3,000 home product brands, including Xiaomi, Casarte, and Toshiba, doubled their transaction volume YoY. Haier, Midea, Xiaomi, LittleSwan, Gree, Hisense, and TCL surpassed RMB 1 billion in transaction volume. The “Flash New Products” segment saw over 350% growth in transaction volume, and JD’s offline JD Mall and JD Home Appliance City Flagship Stores reported more than 100% YoY growth.
- Apparel Drives Fashion Traffic: True 50% off discounts on apparel attracted a surge of fashion customers to JD.com, with transaction volume of over 1,500 brands increasing two times YoY. Ski jackets, outdoor jackets, and badminton products were among the most popular items.
- Increased Demand for Quality Beauty Products: Brands like L’Oréal, Estée Lauder, and Giant Biogene saw transaction volume grow by over 100% YoY.
- Growth in JD Super’s Order Volume: Orders on JD Super increased by 40% YoY, with products like “28-day Fresh Milk Powder” increasing more than 200% in transaction volume. Low-sugar cakes saw a sixfold increase, and smart pet litter robots rose by 231%.
- Industry Belt Product Surge: Nearly 80 million Jingxi self-operated items were sold, with daily goods increasing by over 600% and home textiles by over 400% compared to the same period last month.
- Health and Wellness Products in Demand: Family medication transaction volumes grew by 119% YoY, health checkup bookings increased by over 100%, and elder-care products like nebulizers and blood pressure monitors doubled in transaction volume.
- Rising Auto Sales: Transaction volume for new energy vehicles and auto accessories rose by over 210% YoY on JD Auto.
- Imported Goods in High Demand: Over 600 brands on JD Worldwide saw transaction volume grow by 200%. Flagship stores for Amazon, Walmart, and Rakuten offered millions of popular items to Chinese consumers, achieving more than tenfold growth month-on-month.
- Increased Sales in Hong Kong SAR: Order volume for JD’s e-commerce business in Hong Kong doubled, with over 2,000 brands seeing transaction volume increase by 100% YoY. Apple, Xiaomi, and ASUS phones were especially popular among Hong Kong consumers, while vivo’s newly launched smartphone boosted its brand sales by over six times.
- International Expansion in Southeast Asia: JD Global Sales extended its service to Malaysia and Thailand, offering free shipping options. U.S. and Singapore-based consumers led in international orders, with books’ transaction volume rising by 50 times and small appliances, baby products, and toys also showing strong growth.
- Ochama Expands in Europe: JD’s European omni-channel brand ochama launched a new automated warehouse in Poland, enabling 48-hour fulfillment across the country and same-day delivery for some orders.
- Growth in JD Insurance Services: JD Insurance now covers 420,000 merchants, marking a 40% YoY increase, with 170 million parcels insured for delivery.
- JD Industrials Sees B2B Demand Rise: JD Industrials’ MRO online procurement platform expanded product offerings by 3.3 times YoY, with transaction volumes for photovoltaic equipment, diesel generators, and packaging boxes rising by 12, 6.3, and 4.9 times, respectively.
- JD IOU and Supply Chain Finance: Interest-free installment options on JD IOU (Baitiao) saw a 51% YoY increase, while credit card installment payments rose by 118%. JD’s supply chain finance products served over 500,000 clients. JD Cloud’s ChatRhino (Yanxi) intelligent customer service handled over 2.16 billion consultations, and JD Cloud’s ChatRhino-powered digital representative livestreaming service supported over 7,500 brands, attracting over 28 million livestream viewers.
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Questions around this news
How did JD.com’s Singles Day promotion perform in rural and county areas?
The release said transaction volume in rural and county areas grew by more than 50% year on year, supported by investment in logistics infrastructure. It also reported that more than 90% of counties had used trade-in services. The release did not provide separate growth figures for rural areas and county areas.
What is Singles Day, also called Double 11?
Singles Day is a shopping event associated with online retail promotions. Retailers may use it to offer discounts, introduce products, and encourage shoppers to make purchases. The event can also involve both online channels and physical stores, as well as services such as delivery and payment options.
What is a trade-in service?
A trade-in service lets a customer return an existing item when purchasing a replacement. Depending on the retailer and product, the old item may be assessed for value, recycled, refurbished, or otherwise handled under the program’s terms. Trade-ins can make replacement purchases more convenient and help keep used goods in circulation.
Earlier from JD.com
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- JD.com Report: China’s Silver Generation Adopts Youthful Shopping Trends
- JD.com to Launch 2024 Singles Day Grand Promotion Featuring Over 1 Billion New Products
- JD.com Included on Forbes World’s Best Employers List for Eighth Consecutive Year
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