{"id":1950742,"date":"2023-06-19T07:13:01","date_gmt":"2023-06-19T11:13:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/jd-com-sales-during-china-shopping-festival-beat-expectations-analysts\/"},"modified":"2023-06-19T07:15:43","modified_gmt":"2023-06-19T11:15:43","slug":"jd-com-sales-during-china-shopping-festival-beat-expectations-analysts","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/jd-com-sales-during-china-shopping-festival-beat-expectations-analysts\/","title":{"rendered":"JD.com&#8217;s sales during the China shopping festival surpassed analysts&#8217; expectations."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fjd-com-sales-during-china-shopping-festival-beat-expectations-analysts%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1950742&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<h2>JD.com&#8217;s Mid-Year Shopping Festival Exceeds Expectations<\/h2>\n<p>By Casey Hall and Sophie Yu<\/p>\n<p>SHANGHAI (Reuters) -Sales on JD.com\u2019s e-commerce site during China\u2019s mid-year shopping festival \u2013 the first major shopping event since the country\u2019s reopening \u2013 grew more than expected, according to brokerages\u2019 estimates based on data they have received.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>The Chinese e-commerce giant saw sales rise 6-8% over the 618 festival period that ran from late May through to Sunday evening, according to a client note from Citi analysts. That beat Citi\u2019s expectations of 2-5% growth.<\/p>\n<p>That estimate was, however, still less than 10.3% growth for JD.com\u2019s gross merchandising value (GMV) logged last year and 27.7% growth seen in 2021.<\/p>\n<p>The festival, named after the founding date of JD.com but embraced by all <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-state-tv-encourages-boycott-of-hm-nike-over-comments-about-abuses-in-xinjiang\/\" title=\"China State TV Encourages Boycott Of H&#038;M, Nike Over Comments About Abuses In Xinjiang\">e-commerce platforms<\/a>, is a key barometer of Chinese consumer spending.<\/p>\n<p>Data from consultancy Syntun showed the combined GMV on major e-commerce platforms including Alibaba Group-owned Tmall, JD.com and PDD Holdings\u2019 Pinduoduo platform, totalled 614.3 billion yuan ($85.79 billion), up 5.4% from last year\u2019s sales period. <\/p>\n<p>The consultancy firm said <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/jd-com-sales-during-china-shopping-festival-beat-expectations-analysts\/\" title=\"JD.com's sales during the China shopping festival surpassed analysts' expectations.\">live streaming e-commerce<\/a> on ByteDance\u2019s Douyin, Kuaishou and Diantao, which is also backed by Alibaba, contributed 184.4 billion yuan.<\/p>\n<p>JD.com has said it will not release its GMV for the festival period this year, only noting that sales hit a record \u2013 a milestone which was expected. Alibaba has also stopped releasing GMV figures for the so-called Singles Day shopping festival period in November in the face of slowing sales.<\/p>\n<p>Alibaba and Pinduoduo do not traditionally publish 618 results for their own platforms. <\/p>\n<p>The festival period this year was marked by particularly fierce competition, with platforms offering billions of yuan in coupons and subsidies to entice Chinese consumers to spend. <\/p>\n<p>Subdued sentiment among shoppers, worried about the job and property markets, bodes ill for China\u2019s post-pandemic recovery, which is already losing steam.<\/p>\n<p>Retail sales climbed 12.7% in May, missing a consensus estimate of 13.6% growth and slowing from 18.4% growth in April.<\/p>\n<p>Goldman Sachs analysts said in a client note that JD.com sales during 618 \u201cslightly\u201d exceeded expectations, while Jefferies analysts said the event \u201csurpassed expectations and set new records.\u201d Neither provided numerical estimates.<\/p>\n<p>($1 = 7.1609 Chinese yuan renminbi)<\/p>\n<p> (Reporting by Casey Hall in Shanghai and Sophie Yu in Beijing; Editing by Edwina Gibbs and Susan Fenton)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/jd-com-sales-during-china\/attachment\/file-photo-people-wait-for-bus-near-a-billboard-of\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Recent Headlines:<\/h3>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>After Bill Gates met with China\u2019s Xi Jinping, Antony Blinken\u2019s meeting comes amid rising tensions and China\u2019s plans to spy on the U.S. from Cuba.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>California proposes taking so-called affirmation of a child\u2019s gender identity into account in child custody disputes. Here\u2019s One America\u2019s Sam Valk with more.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>This week has been filled with major headlines in the US and around the world. One America\u2019s Rachel Acenas has more in our Week in Review.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Guggenheim Baseball Management, which owns the Los Angeles Dodgers, is going ahead with their salute to the Sisters of Perpetual Indulgence. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Friederike Heine and Supantha Mukherjee BERLIN\/STOCKHOLM (Reuters) -The German government and Intel are expected to ink a deal over the U.S.\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Friederike Heine and Supantha Mukherjee BERLIN\/STOCKHOLM (Reuters) -The German government and Intel are expected to ink a deal over the U.S.\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Philip Blenkinsop BRUSSELS (Reuters) \u2013 The European Commission will unveil on Tuesday possible measures, such as screening of outbound investments and\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Philip Blenkinsop BRUSSELS (Reuters) \u2013 The European Commission will unveil on Tuesday possible measures, such as screening of outbound investments and\u2026 <\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Sales on JD.com&#8217;s e-commerce site during China&#8217;s mid-year shopping festival exceeded expectations, with a 6-8% increase, according to estimates from brokerages. This was the first major shopping event since the country&#8217;s reopening.<\/p>\n","protected":false},"author":66,"featured_media":1950743,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[4504,4501,8427,14686,29034,5219,14252,29035],"class_list":["post-1950742","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-analysts","tag-china","tag-expectations","tag-festival","tag-jd-coms","tag-sales","tag-shopping","tag-surpassed"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1950742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1950742"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1950742\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1950743"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1950742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1950742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1950742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}