JD eclipsed by Alibaba import commitments

Chinese online retailer JD was outmanoeuvred by its arch rival Alibaba this week, over its commitment to importing goods for China’s growing middle class.

Alibaba stole the headlines with a commitment to import US$200 billion of goods into China during the next five years. Most mainstream and trade media missed the fact that JD made a similar pledge, albeit of just half the value, $100 billion, at the same event, the first ever China International Import Expo (CIIE) in Shanghai.

The figures are relative, however: Alibaba boasts more than 600 million Chinese consumers on its sites, JD more than 300 million. Both companies are aware that middle-class Chinese have more disposable income and they want to spend a significant share of it on imported goods. 

“Last year, the number of users purchasing products from overseas brands grew by 37.1 per cent compared to 2016,” said JD in a statement. “The volume of imported goods this year to date has already skyrocketed 150 per cent as compared with two years ago.”

Source: insideretail.asia

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