China Retail & E-commerce Weekly Update presents the latest developments in two of China’s fastest changing and rapidly evolving markets – retail and e-commerce.

Key highlights in this issue:

I. Sector Review

Internet & E-commerce

• Alibaba’s revenue up by 5% yoy to 236.5 billion yuan in September quarter
• JD.com expands instant retail with JD NOW flagship stores
• Amazon Global Store launches flagship store on JD.com
• Xianyu exceeds 600 million registered users and reveals new AI tools
• Vipshop’s 3Q24 net revenue reaches 20.7 billion yuan as GMV reaches 40.1 billion yuan
• Kuaishou’s 3Q24 GMV reaches 334.2 billion
• Tmall establishes Youyoujia E-commerce Co., Ltd in Jilin
• Meituan Delivery invests one billion yuan in helping catering merchants innovate product offering and business model
• Yatsen E-commerce’s 3Q24 revenue reaches 677 million yuan as net loss totals 121.1 million yuan

Supermarkets & Hypermarkets

• Walmart China’s net sales in the first three quarters of 2024 exceed 100 billion yuan

Retail Logistics

• JD Logistics’ 3Q24 revenue up by 6.6% yoy to 44.4 billion yuan

Food & Beverage

• Domino’s Pizza opens 1,000th China store in Chengdu 

II. Market Overview

• NBS: Total retail sales of consumer goods up by 4.8% yoy in October