Gross Domestic Product growth is on fire around the globe. Online companies that survived during the pandemic have a new set of challenges facing them due to a fragmented supply chain, lack of shipping containers, and a tariff war that helps fuel inflation. But despite those challenges, and the virus fears that still swirl around the minds of consumers, JD current affairs, the online everything company, smashed company revenue records in quarter two of 2021. Not only that, the JD current affairs report states brand partners had year-over-year increases that would make Steve Jobs stand up and cheer if he could still do that.
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What Makes Doing Business With JD So Special
The Internet is a vast marketplace with new brands and innovative tech ideas that open the door for expansion. The Chinese online retailer who uses tech advancements that add quality to life while achieving value fulfillment is the retailer people want to work. The second-quarter JD current affairs report checked all those boxes.
Retail is all about satisfying consumer needs, according to CFO Sandy Xu. Sandy is CFO and the JD current affairs reporter. In her second quarter 2021 report, CFO Xu pointed out over 80% of JD’s user growth came from lower-tier cities. China’s Lower-tier cities do not meet the qualifications to be a top city in terms of population, size, product availability, and other standards.
JD executives saw the growth opportunity in cities that need assistance several years ago, thanks to its sophisticated logistic network. That network makes buying less of a hassle, according to Sandy Xu. Xu also told the press JD continues to add partners to its supply chain that can produce and deliver the products these lower-tier cities cannot get without experiencing some form of pricing and delivery discomfort along the way.
JD Is China’s Largest Grocery Store
Being the biggest doesn’t always mean the best. But when it comes to groceries, JD proved it is China’s biggest and best grocery store. More than 10,000 grocery brands increased revenue growth by more than 100% in quarter two. Seven thousand brands had a 200% increase. Five thousand brands had a 300% jump in revenue. And that proves JD is on fire in several sectors of China’s economy.
According to company CEO Dr. Jon Liao, JD wants to invest in startups and companies that share JD’s expectations and business strategy. The strategy to help lower-tier cities find what they need to live is a strategy Liao won’t abandon. Dr. Liao developed the infrastructure and factory capacity to increase production and meet delivery schedules to help these cities.
JD Heath Had A Booming Second Quarter
The pandemic opened the world’s eyes. And out popped a host of medical challenges no one expected. JD Health had enough pharmaceutical inventory on hand to realize a 400% increase in revenue in the second quarter of 2021. Dr. Liao also added an online service so consumers can get medical advice from a medical consultant.
But the service that helped thousands deal with the after-effects of the pandemic is the JD Family Doctor Service. JD Family Doctor Service gives consumers access to medical advice and services. And it also supplements China’s medical services.
The second quarter was great in terms of revenue growth. According to Fortune Magazine, JD.com jumped 37 places on its 500 List. JD holds the 102nd spot on that impressive list. JD.com is also one of the top three tech growth companies in China.
JD Q2 Earnings Is Highest In More Nine Quarters
JD proved it had the energy to become one of the leaders in online retailing and marketing. Overall, JD had a more than 33% increase over the second quarter of last year. Revenue from general merchandise had a more than 45% increase. And the company’s customer-based jumped by almost 30%. JD’s customer base is now over 417 million users.