The US-listed, Chinese retail and delivery platform Dada has broken the one billion-threshold for yearly orders and boosted revenue by almost 86 per cent.
“Our business continues to grow and our leading position further strengthening with market share expansion,” said Chairman and CEO Philip Kuai. “JDDJ remained the largest local on-demand retail platform in the China supermarket segment with 24 per cent market share in the first nine months of 2020, up from 21 per cent in 2019,” he said.
Gross Merchandise Volume (GMV) in the year to September 30 was $3.2bn, up by 102.9 per cent year on year, while the number of active customers in the same period rose 77.1 per cent to 37.3M. Meanwhile, the Dada Now, China’s largest on-demand delivery platform, grew market share from 19 per cent to 24 per cent.
Dada Group CFO Beck Chen said the company will invest further in technology to offer retailers and brand owners enhanced capabilities and improved efficiency and thus strengthen their partnerships with Dada.
“With the strong growth momentum, we are confident that JDDJ revenue will grow by 100 per cent year over year in the second half of 2020,” he said.