JD.com, China’s biggest internet retailer by revenue, is launching a standalone luxury ecommerce platform to target buyers in the country’s smaller cities.
China’s mid-tier cities, defined as those smaller than Beijing and Shanghai but still with populations in the millions, accounted for more than 80 per cent of the country’s luxury online sales in 2016. Few luxury retailers have set up stores in these cities, prompting consumers to shop online.
“Luxury brands have to have an online presence in China, to help themselves reach into second- and third-tier cities whose residents might not have easy access to purchase luxury items offline,” said Shaun Rein, managing director of China Market Research Group, a consultancy.
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