JD.com, otherwise known as Jingdong is using technology for more than just processing and delivering products. While the company has recently been developing technology to help with the billions of orders that it receives every year, JD.com is also relying on data analysis to bring the customer an even better shopping experience. JD.com is using drones and robot vehicles to deliver to over 99% of China.
During the company’s ‘6.18’ anniversary event, it used its data analysis to introduce customers to new products on a personal and individual level. JD.com studies buying habits and it can then suggest products that the customer may want but they do not know about it. That enormous logistical operation is only possible due to many of the advances JD.com has made in the last year. Jingdong used some of the new data collection and analysis to smash records during the 18 day sales event.
Chinese customers have been looking for high end products including the top names in fashion and electronics, and they have all of the big names such as Prada and Farfetch. As the middle class grows in China, it is not just people in the large cities that are looking for the expensive items.
JD.com has found that people across China are looking for the finest products. The sale resulted in record setting numbers, and millions of dollars of products were sold in just minutes. It shows that there is an even bigger desire than ever to buy everything from food and toys to clothes and cars. See This Article for additional information.
Jingdong has been using this type of sales and data analysis for a while, and it is even using it in its offline locations. Stores can track the foot traffic of customers and find out which products are selling well and in which part of the store items should be located. It is all part of JD.com’s pledge to offer its customers the best possible shopping experience
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JD.com, also known as Jingdong, was started by a man named Richard Liu. Jingdong is China’s largest retailer that is working hard to offer new products to their clients on a daily basis.
The sales transaction volume on Jingdong has really grown in the past few years. The products that JD.com are offering are continuing to be of higher quality. Now that more products are becoming available that are of higher quality more people are continuing to shop on a daily basis. See This Page for additional information.
Having new products is a new strategy that Jingdong is using. They are hoping that by launching new products they are going to bring more people in to shop at their platforms. They’re using online social media and other ways to promote these products. The transaction volume has at least doubled in some cities thanks to these new product promotions.
JD.com has high hopes that this new plan of marketing is going to take their business to new levels. They have recently launched new brands within their stores including Prada, Car Shoe, and more. JD.com has over a thousand brands that they plan to start promoting in the next little bit. They have already seen a great outreach since starting these promotions and they are hoping with more products becoming available that more and more people will continue to shop.
Jingdong is a huge online networking that has really taken off in the past few years. Richard Liu never guessed that when he started JD.com it would become so huge. He started in hopes of making a few extra dollars but in return he’s made millions. JD.com has a very bright future and they are going to continue to be successful for many more years to come. Richard Liu cannot wait to see how much more success JD.com is going to bring him.
Visit their store on https://www.joybuy.com/
Online luxury consignment retailer The RealReal may be a unicorn–no, not the mythical animal in this case, but almost as rare. In the world of finance, a unicorn is a private company valued at over $1 billion. The RealReal will attain that coveted status if it sells the $70 million in shares it recently authorized.
The e-commerce company has raised a total of $288 million via both venture capital and private investors. According to Pitchbook, The RealReal was valued at $745 million in July of 2018.
Julie Wainwright, founder and CEO of The RealReal has goals to go public with the company and could have an IPO (Initial Public Offering) as early as 2020. As The RealReal grows it’s setting its status amongst other e-commerce giants such as Poshmark, Glossier and Rent the Runway.
Part of The RealReal’s success is how it sets itself apart from other retailers. One way they do this is by authenticating the established luxury brands they sell. They use in house experts and authenticators to verify the products.
The company also predicts trends based on their inventory from consigners and who is buying what and when. This keeps them ahead of the curve, and appeals to the millennials that make up a third of their buyer base. The RealReal also branched out after realizing the only option to buy and sell used jewelry was at places like pawnshops. Having a trusted online marketplace for these transactions filled a niche.
It’s not surprising that The RealReal is doing this well in the e-commerce game considering CEO Julie Wainwright’s past experience as CEO of Dot.com era company Pets.com. Since 2011, The RealReal has steadily proven its ability to become a powerhouse online retailer through its impressive growth and success.
The RealReal will likely continue to grow. With its active presence on social media, ability to predict trends and its proven record of securing funding, the company is well on its way to unicorn status. The next step is going public, so The RealReal is a company to keep an eye on.
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