Customers’ gold products will be delivered by JD Logistics
JD became the first of its kind through online platforms in China to provide one-stop services for gold buying, deposit to selling called “Gold Safe”.
That allows consumers to directly store gold products in JD’s warehouses after purchasing from JD and they can take out their gold whenever they want. Consumers can select 90, 180, and 360 days for the storage period.
For gold investors, finding a reliable, stable, and efficient agent to sell their gold has always been a problem, although there are many channels to sell gold, from small street stores and pawnshops to gold stores and banks.
Based on the market demand, the company took advantage of its supply chain to develop a gold buyback business in 2018. With its technology advantages, JD cooperated with China National Gold Group and Shandong ZhaoJin Group, to make it possible for consumers to not only buy gold online but also sell online.
Due to the simplicity of online operation, the online gold buyback model has been recognized by consumers and merchants and has maintained rapid development in the past two years. In January 2021, sales of JD’s gold buyback business increased by 300% YOY.
As a precious metal for reserves and investment, gold can be considered a barometer of global economic stability. Data from the China Gold Association shows that in the third quarter of 2020, gold bullion and gold coin sales increased by as much as 66.73% YOY.
We’ve reported that JD.com became the first e-commerce platform in China that accepts digital yuan in online shopping.