Own Inventory and Internal Supply Chain
JD.com, which stands in Chinese for Jingdong, is a B2C online retailer. It provides a wide array of products including electronics and gadgets, home decoration products and furniture, clothing, and books. Launched in 1998, it used the brand and website 360buy.com before rebranding to JD in 2013. Besides its founder’s (Liu Qiangdong) 15% stake, JD is owned at 20% by the Chinese tech giant Tencent, and 12% by the American retail giant Walmart.
The Chinese Super App
WeChat continues to advance its shopping ambitions as the social networking app turns 10 years old. The Chinese messenger facilitated 1.6 trillion yuan (close to $250 billion) in annual transactions through its “mini programs,” third-party services that run on the super app that allow users to buy clothes, order food, hail taxis and more.
Vipshop is an e-commerce platform specialized in discount sales. Founded in 2012, it offers online shopping discounts and flash sales for more than 1,000 brands in a wide range of products including clothing and accessories, cosmetics, home products and furniture, baby care products as well as some packaged food and dietary complements.
Lifestyle Community Selling
Xiaohongshu, also known as Red, is a social media and e-commerce platform focusing on the fashion and shopping community. Created in 2013, it works primarily through the exchange of user-generated photos and videos of product reviews, travel blogs, and lifestyle stories through Xiaohongshu’s mobile application, where individuals can also shop for the products presented. A website also extends Xiaohongshu’s activities to internet-connected computers.