China's consumption market: 5 trends from JD pointing to higher quality and rationality

Hui Liu, chief data officer of JD Big Data Research Institute

JD's Hui Liu says the increase in transaction volume during last November's 2020 Singles Day Grand Promotion reveals demand for better quality and greater consumer trust.

JD recorded US$41.1 billion in transaction volume during last year's 2020 Singles Day Grand Promotion on Nov 11, representing growth of 32.8% YOY.

What deserves our attention more than the figures themselves is the trend towards a higher-quality consumption market in China with more potential for rational buying behaviour.

From price-based to experience-based

JD has not only won the trust of consumers as a result of prices but also because of the company's ability to meet the demand for quality.

From the 2020 Singles Day Grand Promotion, it is clear the shopping behaviour of consumers has...

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