JD – triple digit growth on Singles Day

Alibaba’s arch rival e-commerce and logistics giant JD’s Singles Day shopping festival got off with a bang, with 190 million items sold in the first four hours.

China’s answer to Black Friday, the 1/11 Singles Day is a highly anticipated annual discount shopping bonanza. Amongst other things JD reported in a blog:

– RMB100 million (£11.45 million) in sales of iPhones in just three seconds
– Mobile phone sales across all brands growing by 300% year on year
– 10 times the sales volumes of fashion items as that in October
– 390% year on year growth in sales from its international supermarket
– JD private label sales growing by 167% YOY

To manage this huge surge in sales, JD Logistics was well prepared. Items bought were sent to customers from the nearest of 1,200 warehouses across Asia in the JD Logistics network. According to JD, this allowed customers in 300 cities to receive their orders ‘within minutes’.

The sales increase are in part due to a Chinese government policy of increasing domestic consumerism to reduce its need for Western custom for its manufactured goods. This is part of the issue that is leading to general tension in the Asia Pacific region as an increasingly confident China flexes its economic muscles.