JD.com's second quarter report card is out, with both quarterly active users and user shopping frequency increasing
2024-08-17
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Henan Daily Client Reporter Li Xiaohan
On August 15, JD.com Group released its second quarter and interim results for 2024. With the continuous optimization of "cost, efficiency, and experience", during the reporting period, JD.com's net profit exceeded market expectations, and the number of quarterly active users and user shopping frequency maintained double-digit growth.
Focusing on the concept of "more, faster, better and cheaper", JD.com has been committed to improving user experience for many years. The company brings consumers lower prices, better services and a more extreme shopping experience by continuously improving service capabilities, optimizing supply chain efficiency, and increasing the richness of brand merchants.
During this period, JD.com continued to meet the diverse needs of different users with a rich supply of merchants and products. In the second quarter, the number of new third-party merchants on JD.com increased by 46% compared with the first quarter. In terms of big-name supply, many international first-line clothing and beauty brands, including Hermès perfume and beauty, SAINT LAURENT, etc., have settled in JD.com.
In order to bring more competitive prices to consumers, JD.com has also launched a series of measures in terms of preferential strength and price subsidies. Taking beauty products as an example, JD.com has increased subsidies for all beauty categories through 10 billion yuan subsidies, invested more than 3 billion yuan, and proposed no upper limit, which effectively promoted the transaction of goods.
In terms of services, JD.com actively responded to the government's call and launched a new cycle of home appliance product replacement, such as the price increase plan for old appliances and the "three frees and four unlimiteds" trade-in service. These measures not only help consumers replace home appliances, but also drive the growth of merchants' sales. Since the first half of the year, JD.com has cooperated with more than 20 provinces and cities to promote the trade-in of home appliances and home furnishings. During the 618 period, JD.com has driven more than 700 brands to achieve a year-on-year growth of more than 100%.
In addition, JD.com launched the "free door-to-door return and exchange" service in February this year, and continued to iterate and optimize the freight insurance service. By the end of the second quarter, the coverage rate of third-party merchants had exceeded 90%; "JD.com Second Delivery" is providing consumers in more than 2,400 counties, districts and cities across the country with a shopping experience of the fastest delivery of 9 minutes.
The high-quality user experience is due to JD.com's solid supply chain infrastructure and continuous optimization of costs and efficiency. As of the second quarter, JD.com's supply chain infrastructure assets reached 156 billion yuan, an increase of 11% year-on-year. JD Logistics has nearly 100 bonded warehouses, direct mail warehouses and overseas warehouses around the world, with a total management area of nearly 1 million square meters. JD.com's international express delivery business can be delivered to major European and American countries in as fast as 3 days.
Xu Ran, CEO of JD Group, said: "In 2024, we will continue to consolidate our supply chain capabilities and user experience, helping JD.com establish differentiated capabilities in China's e-commerce industry. The company continues to improve through economies of scale and procurement efficiency, bringing users everyday low prices while ensuring quality. Combined with the increasingly optimized platform ecology, these developments have been recognized by users. The number of users grew steadily in the second quarter, and user engagement continued to improve."
