China’s largest retailer to invest £2bn into British goods
From luxury British couture and tea, to chocolate, beauty products, home appliances and other items, UK products have gained popularity in China in recent years.
To meet this growing demand, JD.com, China’s largest retailer, has announced plans to sell £2bn of UK goods to Chinese consumers over the next two to three years.
The agreement signed today between JD.com and the Department of International Trade (DIT), is focused on making it easier for British companies to access the China market via JD.
“Many British brands recognise the huge potential of China’s enormous e-commerce market,” said Richard Burn, director-general of DIT China.
“JD truly understands what Chinese consumers want and has the resources to help British brands ensure success in the region. We’re looking forward to working with JD to bring more British brands to China in the future.”
Theresa May, who is on her first official state visit to China since becoming Prime Minister, met with JD chairman and CEO Richard Liu at the residence of the British Ambassador to China.
Among the topics Liu and May discussed were JD’s plans to help more UK brands reach JD’s 266 million customers.
The number of UK brands on JD.com has doubled over the last two years, with sales in 2017 growing 100% year-on-year.
World famous brands Dyson, Clark’s, Johnnie Walker and Lipton are among the brands that have been popular with JD consumers. Over the past three years, Dyson sales on JD have increased by over 60 times.
In order to push even greater sales of British goods, JD will launch special campaigns for seasonal products and undertake other activities to give brands more opportunities to reach Chinese consumers.
JD will kick off with a 24-hour “Celebrate Britain” sales promotion for UK products this April to introduce the “Best of Britain” to Chinese customers.
Published: 01 February 2018