• BUSINESS
    • FINANCE
    • LEGAL
    • RETAIL & CONSUMER
    • AUTOS & TRANSPORTATION
    • HEALTHCARE & PHARMACEUTICALS
    • MEDIA & TELECOM
    • AEROSPACE AND DEFENSE
    • ENERGY
  • MARKETS
    • EUROPEAN MARKETS
    • ASIAN MARKETS
    • U.S. MARKETS
    • COMMODITIES
    • EMERGING MARKETS
    • DEALS
    • RATES & BONDS
  • WORLD
    • UNITED STATES
    • EUROPE
    • UNITED KINGDOM
    • ASIA PACIFIC
    • MIDDLE EAST
    • AFRICA
    • CHINA
    • INDIA
    • JAPAN
    • AMERICAS
    • FRANCE
    • GERMANY
  • POLITICS
    • GOVERNMENT
    • UNITED STATES
    • US SUPREME COURT
  • TECH
    • ARTIFICIAL INTELLIGENCE
    • CYBERSECURITY
    • SPACE
    • DISRUPTED
  • COMMENTARY
  • BREAKINGVIEWS
    • BREAKINGVIEWS PREDICTIONS
  • MONEY
    • WEALTH
    • FUNDS
    • ETFS
  • LIFE
    • LIFESTYLE
    • SPORTS
    • SCIENCE
  • SECTORS
    • ENERGY
    • HEALTHCARE
    • MEDIA & TELECOM
    • SUSTAINABILITY
    • ENVIRONMENT
    • RETAIL & CONSUMER
    • AUTOS & TRANSPORTATION
    • AEROSPACE AND DEFENSE
FinanceTime
  • August 20th, 2026

FinanceTimeFinancetime

  • BUSINESS
    • FINANCE
    • LEGAL
    • RETAIL & CONSUMER
    • AUTOS & TRANSPORTATION
    • HEALTHCARE & PHARMACEUTICALS
    • MEDIA & TELECOM
    • AEROSPACE AND DEFENSE
    • ENERGY
  • MARKETS
    • EUROPEAN MARKETS
    • ASIAN MARKETS
    • U.S. MARKETS
    • COMMODITIES
    • EMERGING MARKETS
    • DEALS
    • RATES & BONDS
  • WORLD
    • UNITED STATES
    • EUROPE
    • UNITED KINGDOM
    • ASIA PACIFIC
    • MIDDLE EAST
    • AFRICA
    • CHINA
    • INDIA
    • JAPAN
    • AMERICAS
    • FRANCE
    • GERMANY
  • POLITICS
    • GOVERNMENT
    • UNITED STATES
    • US SUPREME COURT
  • TECH
    • ARTIFICIAL INTELLIGENCE
    • CYBERSECURITY
    • SPACE
    • DISRUPTED
  • COMMENTARY
  • BREAKINGVIEWS
    • BREAKINGVIEWS PREDICTIONS
  • MONEY
    • WEALTH
    • FUNDS
    • ETFS
  • LIFE
    • LIFESTYLE
    • SPORTS
    • SCIENCE
  • SECTORS
    • ENERGY
    • HEALTHCARE
    • MEDIA & TELECOM
    • SUSTAINABILITY
    • ENVIRONMENT
    • RETAIL & CONSUMER
    • AUTOS & TRANSPORTATION
    • AEROSPACE AND DEFENSE
A sign of China's e-commerce company JD.com is seen at CES (Consumer Electronics Show) Asia 2016 in Shanghai, China, May 12, 2016. Aly Song
A sign of China's e-commerce company JD.com is seen at CES (Consumer Electronics Show) Asia 2016 in Shanghai, China, May 12, 2016. Aly Song
Home
Tech
Technology

China's JD.com beats revenue estimates despite slowing economy

August 16th, 2023 | 10:18 AM TECH Technology 2

Facebook Twitter Google+ LinkedIn Pinterest

Worth reading...

China puts robocops on traffic duty, minus the arrest powers
Uber launches autonomous rides in Zagreb, its first in Europe
Payments firm Stripe to buy AI developer platform OpenRouter
Irish lawmakers summon TikTok over videos glorifying dangerous driving
By Reuters

JD.com (9618.HK), beat analyst forecasts for second-quarter revenue on Wednesday, as the Chinese e-commerce giant's focus on lower-priced products paid off in the fight for customers in an economic slowdown.

The company said it attracted more vendors to its platform, helped by lower thresholds and costs for them to join, and that users shopped more frequently as its product range expanded.

Competition is intense in the commerce sector and rivals such as Alibaba Group (9988.HK) and PDD Holdings Inc (PDD.O) are also trying to host more vendors to boost choice for buyers.

Helped by its so-called ten billion yuan subsidy programme, customers are also logging on to JD.com's platform more often to make purchases, the company said, without providing figures.

CEO Sandy Xu said in some core categories, such as electronics where JD.com is a strong player, the company continued to increase market share in the second quarter despite a weak property market and modest recovery in durable goods demand. "In fact the electronics category is still facing pressure," she said, "but we outperformed the industry."

JD.com's second-quarter revenue rose 7.6% to 287.9 billion yuan ($39.7 billion), beating analysts' average estimate of 278.85 billion yuan, according to Refinitiv Eikon data.

Jacob Cooke, co-founder and CEO of WPIC Marketing + Technologies, an e-commerce consulting firm based in Beijing, said JD.com's low price strategy was in tune with consumers' focus emerging from the pandemic, and its strength in service and logistics helped it appeal to higher end urban customers.

"JD.com's low price strategy, coupled with these advantages, has broadened the user base and made the platform a preferred choice over Pinduoduo in the 3C and appliance verticals," Cooke said, referring to computer, consumer electronics and communications products.

After China abandoned its stringent COVID-19 lockdown policies, consumption failed to rebound immediately amid a slowdown in the overall economy.

Recent official economic data has also been gloomy, with the consumer price index tipping into deflation in July.

Retail sales rose just 2.5%, slowing from a 3.1% increase in June, despite the summer travel season. Analysts had expected retail sales to grow 4.5%.

U.S.-listed JD.com shares were down almost 5% in early trade.

(1 Chinese yuan = $0.1370)

  • Topic
  • RESULTS/ (UPDATE 3, PIX)
  • JD.COM
Facebook Twitter Google+ LinkedIn Pinterest
Previous article China puts robocops on traffic duty, minus the arrest powers

Related Posts

Technology
August 20th, 2026

China puts robocops on traffic duty, minus the arrest powers

Technology
August 19th, 2026

Uber launches autonomous rides in Zagreb, its first in Europe

Technology
August 19th, 2026

Payments firm Stripe to buy AI developer platform OpenRouter

Technology
August 19th, 2026

Irish lawmakers summon TikTok over videos glorifying dangerous driving

Technology
August 19th, 2026

Marvell gives Google option to buy $12.2 billion stake in custom AI chip...

Technology
August 19th, 2026

Nebius plans $4.5 billion convertible debt sale to fund data centers, AI...

The Wire
Aug 20th 5 h ago
Technology

China puts robocops on traffic duty, minus the arrest power...

Aug 20th 6 h ago
Soccer

Japan's Miura, 59, becomes oldest scorer in Emperor's Cup h...

Aug 20th 6 h ago
Environment

A decade after earthquake, Italy's Amatrice struggles to re...

Aug 20th 6 h ago
ROI: Reuters Open Interest

The Iran war energy crisis is just getting started

Aug 20th 6 h ago
Media & Telecom

'Baby Shark' boy returns to stage as a K-pop singer

TRENDING ON FINANCETIME
Aug 20th, 2026 Litigation

SK Hynix to pay 60% of employee bonuses in company stock under preliminary deal, says source

Aug 20th, 2026 Asia Pacific

Outsider who could decide New Zealand's next government wants to tax wealth, not work

Aug 20th, 2026 Business

Aegon raises share buyback plan to 350 million euros

Aug 20th, 2026 Africa

South Africa's Exxaro half-year profit down 20%, cuts dividend

Aug 20th, 2026 Cricket

Australia look for response to 'Darwin Disaster' in second Bangladesh test

Markets-Sectors
BASIC MATERIALS +1.43%
UTILITIES +0.00%

  • BUSINESS
  • MARKETS
  • WORLD
  • POLITICS
  • TECH
  • COMMENTARY
  • BREAKINGVIEWS
  • MONEY
  • LIFE
  • SECTORS
  • Back to top
FinanceTime
FinanceTime

World Business & Financial News, Breaking US & International News

Additional Services
  • Privacy-Policy
  • Terms and Conditions
© Financetime.org 2026. All rights reserved. Hosted by LeadsDeposit.com
Produced by C-iT