JD.com sales during China shopping festival beat expectations

20 Jun 2023

​Sales on JD.com's e-commerce site during China's mid-year shopping festival - the first major shopping event since the country's reopening - grew more than expected, according to brokerages' estimates based on data they have received.

The Chinese e-commerce giant saw sales rise 6-8% over the 618 festival period that ran from late May through to Sunday evening, according to a client note from Citi analysts. That beat Citi's expectations of 2-5% growth.
That estimate was, however, still less than 10.3% growth for JD.com's gross merchandising value (GMV) logged last year and 27.7% growth seen in 2021.