Login

Reload

Remember me Forgot it?

Not a subscriber?

Click on the button below to create your account and get immediate access to Xinhua Silk Road Database.

Start a Free Trial

Subscribe

Belt & Road Weekly Subscription Form

Research Report

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

China Brand

HOME > China Brand


Walmart, JD back online grocer

August 10, 2018


Abstract : Chinese online grocery and delivery company Dada-JD Daojia announced on Thursday it had raised $500 million from US-based retail giant Walmart Inc and Chinese e-commerce behemoth JD in its latest round of financing.

timg (3)

BEIJING -- Chinese online grocery and delivery company Dada-JD Daojia announced on Thursday it had raised $500 million from US-based retail giant Walmart Inc and Chinese e-commerce behemoth JD in its latest round of financing.

Walmart invested $319 million in the latest fundraising, while JD invested $181 million. After this round of financing, Dada-JD Daojia said it would deepen its partnership with leading retail partners and improve supply chain efficiency via technology.

Dada-JD Daojia, which is partly owned by JD, includes two businesses. Dada is an on-demand logistics platform with operations covering more than 400 major cities across China, serving over 1.2 million merchants and 50 million individual users, with a peak of 10 million daily orders.

JD Daojia has more than 50 million registered customers and 20 million monthly active users in around 40 major cities across China. It provides a one-hour delivery service of fresh fruits and vegetables, groceries, flowers, baked goods and pharmaceutical products through partnering with retail stores.

Dada-JD Daojia's partnership with Walmart dates back to 2016 when Walmart invested $50 million, as part of its effort to bring a seamless online and offline shopping experience. At present, approximately 200 Walmart stores in 30 major Chinese cities have a presence on JD Daojia.

In the first promotional phase of the Aug 8 shopping festival launched by JD and Walmart, the online sales of Walmart generated from JD Daojia from July 24 to Aug 4 increased by 200 percent year-on-year.

"We are confident that this deeper collaboration with Dada-JD Daojia will enhance our omni-channel footprint and deliver a better online-to-offline or O2O customer experience," said Wern-Yuen Tan, president and CEO of Walmart China.

"The future of global retail is without boundaries. There will be no separation between online and offline shopping, only greater convenience, quality and selection to consumers," said Liao Jianwen, chief strategy officer of JD.

"JD was an early investor in Dada-JD Daojia, and continues its support, because we believe that its innovations will be an important part of realizing that vision," Liao added.

Yang Xu, an analyst at Beijing-based internet consultancy Analysys, said the investment will enhance Dada-JD Daojia's capability in grocery delivery efficiency, and strengthen the cooperation with retail stores to provide more delivery services.

China's e-commerce giant Alibaba Group Holding Ltd has launched Hema Xiansheng fresh food supermarkets, as part of its "new retail" strategy, which aims to seamlessly integrate online and offline shopping by enabling consumers to shop, order groceries for home delivery and eat in-store.(Source:China Daily)


Related Coverage

Focus

Think Tank

  • Foreign firms still betting on China

    October 19, 2018

    With the proactive opening-up of its market and constant improvement of its ...

  • Dollar bonds show confidence in Chinese economy

    October 18, 2018

    The dollar bond sale indicates that there is optimism about the continued im...

  • As US closes up, EU and China must build closer ties

    October 17, 2018

    The EU and China have the world's most dynamic economic relationship, their ...

  • The Chinese Race to Artificial Intelligence

    August 10, 2018

    China is no longer just a manufacturing power, but a technologically advance...

  • Ask Us A Question

    If you have any questions, please enter them in the box below.

    Reload

    Write to Us

    Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

    Click on the button below to create your account and get imhttp://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

    Start a Free Trial