JD saw RMB 127.1b volume during Singles’ Day, and more about Q3 report

As Singles’ Day concluded last weekend, JD.com saw its transaction volume at RMB 127.1 billion (roughly $19.1 billion) during the sales period from November 1 to November 11, up more than 50% year on year.

Different from Alibaba’s strategy that focused primarily on boosting the sales on November 11, JD.com took a different approach and began the sale on November 1.

Here are some highlights of the sales numbers:

• Fresh produce: Over 20,000 fresh products were sold. The top imported fresh food products sold were avocados, Zespri kiwis, Vietnamese basa fish, Chilean frozen salmon, and Australian sirloin.
• Home appliances: The sales of televisions reached RMB 100 million in one minute, whereas the sales of air conditioners reached RMB 500 million in 30 minutes.
• Consumer products: JD.com sold 1.5 billion baby diapers, 20,000 tons of infant milk powder, 150 million sanitary napkins, and 33,000 tons of laundry detergent.

Also, JD appears to perform well in the third quarter prior to the shopping craze. Its net revenues for the third quarter of 2017 were RMB 83.7 billion ($212.6 billion), marking an increase of 39.2% from the third quarter of 2016, as pointed out in its Q3 financial report released on Monday. Gross profit for the third quarter of 2017 was RMB 13 billion ($2 billion), up 50.3% from the same quarter last year.

It’s also worth noting that the annual active customer accounts increased by 34% to 266.3 million in the 12 months ended September 30, 2017.

“We are achieving our mission of bringing China’s consumers the widest selection of top brands and, by far, the highest quality e-commerce experience,” said Richard Liu, chairman and CEO of JD.com, in the press release. “We are also building robust product content and enhancing user engagement, as our innovative tools enable brands to execute highly targeted online marketing programs.”