More turnover, despite lower volumes
JD.com’s gross sales volume (the total value of all transactions on a eCommerce platform) grew 76 % in the third quarter, up to 17 billion euro. Even though it does not get anywhere near Alibaba‘s numbers, which grew 28 % to 105 billion euro, it is still a remarkable growth.
Despite its lower sales volume, JD.com did trump Alibaba turnover-wise as its turnover grew 52 % to 6.5 billion euro, while Alibaba’s turnover “only” grew 32 % to some 3.3 billion euro. So in short, JD.com manages to generate more turnover out of a lower transaction volume.
JD.com’s founder and CEO, Richard Liu, says the growth is thanks to its collaboration with mobile chat application WeChat, which currently has 650 million monthly users, including 200 million with a credit card attached to their account.
