Chinese e-commerce giant JD said it aims to help more than 150,000 small and medium-sized merchants increase their sales by over 50 percent year-on-year during this year’s June 18 shopping carnival, which will kick off at 8 pm on Friday.
It will help more than 80 brands achieve sales of over 1 billion yuan ($138 million) during the midyear promotional campaign, while the number of merchants who see their sales surpass 1 million yuan is expected to surge 100 percent year-on-year, JD said.
Xu Ran, CEO of JD, said as consumer demand becomes increasingly personalized, technology and service innovations will stimulate their demand, highlighting that providing ultimate user experience is JD’s core mission and a key driver of its growth.
Noting the future competition in retail industry lies in supply chain, Xu said JD will leverage cutting-edge digital technologies such as artificial intelligence and improve supply chain infrastructure to bolster the deeper integration of digital and real economies and stimulate the vitality of consumption.
The company will launch a subsidy campaign worth 10 billion yuan during the June 18 shopping festival and offer low-priced products, as well as steep discounts and shopping coupons for consumers. It has also simplified promotional methods by canceling presale campaigns.
JD reported its revenue reached 260.0 billion yuan in the first quarter, an increase of 7 percent year-on-year, while the non-GAAP (generally accepted accounting principles) net profits stood at 8.9 billion yuan, up 17.2 percent on a yearly basis.