Finance & Economics

China’s largest retailer will offer more products from overseas brands 

The retailer will purchase nearly RMB 100 billion worth of products from overseas brands

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China’s largest retailer will offer more products from overseas brands. Source: shutterstock.com

China’s largest retailer JD.com will purchase nearly RMB 100 billion worth of products from overseas brands. The company announced its plans at the China International Import Expo in Shanghai.

JD’s data from more than 300 million customers on its e-commerce platform shows that e-commerce has rapidly emerged as one of China’s most preferred channels for buying overseas brands. Last year, the number of users purchasing products from overseas brands grew by 37.1% compared to 2016. The volume of imported goods in 2018 to date has already skyrocketed 150% as compared with two years ago.

The growing family of leading international brands partnering with JD now includes the likes of Saint Laurent, Alexander McQueen, Dell, Nestle, Avène and many more.

As China’s e-commerce transformation continues to unfold, consumers have gravitated especially towards premium, smart, and green products. According to JD’s data, the highest performing categories among its customers this year have been mobile phones, computer and office supplies, home appliances, maternal and childcare, and digital products. Advanced economies such as the U.S., Japan, South Korea, Germany, and the Netherlands remain the most popular sources of imported goods.

Chinese consumers buying online are mostly younger (26-45 years old), white-collar workers with middle-to-high incomes. China’s most developed regions, particularly the coastal cities, account for the largest uptake of imported goods. The growth rate for purchases of overseas brands, however, is now highest in fourth- and third-tier cities, where these brands are often not available in brick and mortar stores.

JD Worldwide, the company’s cross-border e-commerce platform, has attracted more than 20,000 brands from over 70 countries.

SEE ALSO: Chinese customers can order medicines online with 24/7 delivery

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