Dada Group's online on-demand retail platform JDDJ delivered a speech about the future of retail and the importance of improving infrastructure in order to optimize the synergy between cost, efficiency, and experience at the summit.
JDDJ, China's leading on-demand retail platform operated by Dada Group (DADA:NASDAQ) recently participated in the 2022 China Retail Leaders Summit held by the China Chain Store and Franchise Association (CCFA) in Suzhou.
At the summit, JDDJ was invited to discuss the future of retail and the importance of improving infrastructure in order to optimize the synergy between cost, efficiency, and experience. The theme of this year's CCFA summit was "Strong Confidence and Resilient Growth," and the event brought together retail industry leaders from various sectors to discuss what's going on in the industry and to look ahead to its future development.
JDDJ is at the forefront of the development of on-demand retailing. The company took the lead to launch an on-demand retail platform in 2015 and has since expanded to cover more than 1,800 counties, districts, and cities across the country. Over 200,000 offline stores have settled on the JDDJ platform, and the company has partnerships with 88 of the top 100 supermarkets in the country, according to the CCFA.
As a new way to connect online and offline integration, on-demand retail has promoted the integration of the real economy and the digital economy, as well as the process of industry digitization. On-demand retail, which is currently returning to the retail essence of 'cost, efficiency, and experience,' is developing rapidly and has become the most important channel for the growth of the retail industry.
In the future, JDDJ plans to continue optimizing and deepening its business in order to meet the evolving needs and requirements of the retail industry. This includes upgrading store infrastructure through the use of inventory management and crowdsourcing picking capabilities, which can reduce costs and increase efficiency. JDDJ has already partnered with over 600 physical stores, including Walmart and Carrefour, to improve their picking processes, resulting in an average 36% reduction in picking time and a 24% reduction in picking costs.
JDDJ is also committed to promoting industry changes and improving retail efficiency. The company has developed solid on-demand retail infrastructure construction capabilities and is well-positioned to meet the challenges of the rapidly evolving retail industry. With a focus on balancing cost, efficiency, and experience, JDDJ is well-equipped to help retail companies adapt to the changing market and continue to grow and thrive in the future.
About Dada Group
Dada Group is a leading platform of local on-demand retail and delivery in China. It operates JDDJ, one of China's largest local on-demand retail platforms for retailers and brand owners, and Dada Now, a leading local on-demand delivery platform open to merchants and individual senders across various industries and product categories. The Company's two platforms are inter-connected and mutually beneficial. The Dada Now platform enables improved delivery experience for participants on the JDDJ platform through its readily accessible fulfillment solutions and strong on-demand delivery infrastructure. Meanwhile, the vast volume of on-demand delivery orders from the JDDJ platform increases order volume and density for the Dada Now platform. In June 2020, Dada Group began trading on the Nasdaq Global Market, under the ticker symbol "DADA."