Incredibly rapid growth for Chinese JD.com

Incredibly rapid growth for Chinese JD.com

Amazon not only has to compete with Alibaba, but also faces competition from Chinese JD.com, especially seeing its rapid growth in the third quarter. Its gross sales volume grew twice as fast as Alibaba's.

More turnover, despite lower volumes

JD.com's gross sales volume (the total value of all transactions on a eCommerce platform) grew 76 % in the third quarter, up to 17 billion euro. Even though it does not get anywhere near Alibaba's numbers, which grew 28 % to 105 billion euro, it is still a remarkable growth

 

Despite its lower sales volume, JD.com did trump Alibaba turnover-wise as its turnover grew 52 % to 6.5 billion euro, while Alibaba's turnover "only" grew 32 % to some 3.3 billion euro. So in short, JD.com manages to generate more turnover out of a lower transaction volume.

 

JD.com's founder and CEO, Richard Liu, says the growth is thanks to its collaboration with mobile chat application WeChat, which currently has 650 million monthly users, including 200 million with a credit card attached to their account.

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