Why JD is tripping up in new retail race
JD, China’s largest retailer and second largest e-commerce company, had a tough 2018.
Its stock plunged about 50% on concerns about slow economic growth, rising competition, shrinking profits, and a rape allegation against founder and CEO Richard Liu. Adding insult to injury, Pinduoduo, an e-commerce upstart focused on consumers in lower-tier cities, overtook JD to become China’s second-largest e-commerce platform by monthly active users.
A year to forget, by any measure. But it gets worse. There’s a strong case JD lost whatever grip it had on omnichannel retail in 2018, throwing the company’s next stage of growth into question.
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