- Chinese on-demand delivery and retail platform, Dada Nexus Ltd (NASDAQ: DADA) and JD.Com Inc (NASDAQ: JD) have jointly launched Shop Now, the JD Xiaoshigou, a new business for JD’s on-demand consumer retail section.
- Shop Now will operate on the model of “order online, delivery from store, within one hour” and is expected to accelerate Dada Group’s and JD’s omnichannel operation in the on-demand retail space.
- With the launch of Shop Now, the parties are advancing on-demand retail from “one-hour delivery” to “minutes delivery.”
- Through joint efforts in consumer experience optimization, Shop Now has recorded a 150% increase in sales in September compared to January, in the testing phase, and attracting a rising number of JD’s 530 million annual active consumers.
- Price Action: DADA shares closed lower by 2.14% at $20.13, while JD closed lower by 0.78% at $78.00 on Monday.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.