JD.com smashes records raking in $29.2bn during sales festival

Ben StevensCompanies News

JD.com smashed previous sales records during its Anniversary Sales festival yesterday, raking in $29.2 billion (£23.2 billion).

The Chinese ecommerce giant hosted its annual sales event “6.18” yesterday, celebrating its 21st birthday with a festival akin to Amazon’s Prime Day or Alibaba’s Single’s Day.

It surpassed last year’s $24.7 billion (£19.63 billion), which also broke previous records, but was just below the £23.81 billion Alibaba made during its most recent sales event.

This was reportedly due to its focus on providing consumers with new products, having launched an exclusive channel within its platform to promote them.

READ MORE: JD.com launches programme allowing manufactures to sell directly to consumers

It also hailed the success of technology in driving sales, revealing that 91 per cent of orders during the event were delivered on the same or next day thanks to its high-tech supply chain.

Furthermore, its smart customer service robot successfully fielded more than 32 million inquiries, 90 per cent of which it did completely independently.

This comes after a string of announcements from the retailer, including the launch of its new consumer-to-manufacturer scheme in May, which allows manufacturers to sell directly to consumers on its platform.

According to JD.com, transaction volumes of new products taking part in this initiative increased 289 per cent during the event, compared to last year.

This month luxury fashion retailers Farfetch and Prada both launched flagship stores on JD.com.

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Ben StevensCompanies News

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