JD.com is seeing a huge boost amid the global turmoil. As well as a growing user base, its employees have reached 320 thousand.
JD.com (JD: NASDAQ) released unaudited third-quarter results for the fiscal year 2020 ending September 30. On one hand, it has attracted more than 100 million annual active users, bringing it to 441.6 million, up 32.1% year-on-year, while the net revenue reached CNY 174.2 billion, up 29.2% year-on-year. Particularly, the total amount of orders placed on JD.com on Single’s Day reached CNY 271.5 billion which set a new record.
On the other hand, JD.com has improved its supply chain management, setting a benchmark for innovation in this area of the industry. The inventory turnover days in JD.com numbered 34 days, which was the fastest turnover rate since JD.com went public. During the Single’s Day Festival, it helped the merchants on JD.com increase their orders by 15 times.
Combined with dual circulation policy, more than 2004 brands on JD.com have seen their GMV rise above CNY 100 million, 81% of these are national brands. JD.com has provided customized logistic services like decreasing costs and increasing efficiency to accelerate dual circulation.