JD. com faces battle to gain ground in China’s instant delivery market

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Chinese ecommerce giant JD. com is going all out to build its instant-delivery business to diversify revenue, but breaking into the competitive industry is proving difficult.

The company has poured billions into JD Takeaway, the food-delivery unit it launched in February, to cut reliance on a core retail business hit by a weak economy and tough competition.

Its results on Thursday showed the service has lifted its user base, traffic and revenue, with both quarterly active customer growth and shopping frequency up more than 40%.

But it is struggling to…



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JD. com faces battle to gain ground in China’s instant delivery market



Chinese ecommerce giant JD. com is going all out to build its instant-delivery business to diversify revenue, but breaking into the competitive industry is proving difficult.

The company has poured billions into JD Takeaway, the food-delivery unit it launched in February, to cut reliance on a core retail business hit by a weak economy and tough competition.

Its results on Thursday showed the service has lifted its user base, traffic and revenue, with both quarterly active customer growth and shopping frequency up more than 40%.

But it is struggling to…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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