Media and industry observers in China coined a popular buzzword — “BAT” — not so long ago to describe three internet e-commerce giants whose influence had grown enormously in recent years. BAT stands for Baidu, Alibaba and Tencent. But like so much in the realm of digital enterprises, the landscape is ever-shifting and changing.
The new buzzword is “JAT.” That stands for JD.Com, Alibaba and Tencent. It denotes the phenomenal growth of JD, a firm established by Richard Liu Qiangdong in 1998. Depending on how you measure it, JD.Com can now said to be the largest retailer in China. Some might argue and give that distinction to one of its competitors. However, there can be no doubt among those who follow JD.com news closely that the momentum and excitement are behind Jingdong, as the firm is also called.
Excellent 2Q 2020 Growth
JD.Com continues to turn in spectacular growth numbers by quarter. For example, the second quarter of 2020 showed a revenue growth rate of 33.8%. That represents $28.5 billion in increased revenue over the previous 2Q of 2019. General merchandise sales alone saw a revenue increase of more than $9 billion, an increase of 45.4%.
Another strong area of growth for the JD.Com platform is pharmaceutical sales. Furthermore, JD’s medical consultation service sales turned in an astounding 400% year-to-year expansion rate. This service is offered under the JD Health brand.
Lei Xu is CEO of JD Retail. He said the volume increases in the medical consultation sector came as a result of more people discovering the service, trying it, getting good results and then becoming accustomed to the service. Positive word-of-mouth referrals almost certainly played a role in helping this well-being product thrive. Mr. Lei Xu told JD.com news that JD Health is now the largest seller of pharmaceuticals in China. Furthermore, he said that JD Health is setting the pace in innovation for online healthcare delivery methodologies.
New Family Doctor Service
An example is the recently launched “Family Doctor” service. It’s a new kind of telehealth model that is customized to the needs of a growing number of Chinese families who want more timely, comprehensive and consistent healthcare support.
Lijun Xin is CEO of JD Health. He said the “core value” of this service concept is based on the fundamental attributes of a friendly and personal “family doctor.” JD Health endeavored to use an online model to recreate everything that is comforting and effective about having a personal family doctor who knows and understands the needs of individual patients and their families. Mr. Xin said that “gathering medical resources around families is what is really needed now.”
Industry observers have cited Family Doctor as the “new model” for the future of the healthcare delivery sector in China. Under the plan, as many as eight families can share a Family Doctor. The latter is actually a service package that includes unlimited medical consultation via the online JD Health platform. Available is an “immediate response” from a GP. A medical consultation with a specialist can be arranged within 48 hours. Users can make face-to-face appointments with a doctor from a top-tier hospital. The latter are called “3A hospitals” in China.
JD Logistics Anniversary
In other JD.com news, JD Logistics celebrated its 8th anniversary this year. This subsidiary of JD.Com has been the lynchpin of what has driven the overall success of the JD.Com brand. Established in 2012, JD Logistics has gained world recognition as among the most innovative and high-tech companies of its kind in the world.