The recent farfetch partnership shows that JD.com is certainly all about innovation and moving toward the future. JD.com released their brand Toplife, last year, and it has merged this particular new offering with Farfetch china. This partnership will allow JD.com to make even deeper inroads into the luxury space, a space that will be even more important as incomes rise to go into the near future. This partnership did not happen overnight, both brands have been mingling since 2017 when JD.com released Toplife.
The JD.com Strategy
The JD.com strategy is a smart one, it is forward facing all the way. JD.com is aware that the future is boundaryless retail.
What does boundaryless retail mean?
Well, according to JD.com, e-commerce is helping to improve the art of shopping and increasing consumerism by making it more streamlined in every single way. The first way that it is happening is through the fact that consumers are able to have a large selection from the comfort of their home, when walking, practically wherever they are. E-commerce has streamlined supply chains allowing for access and optimization. JD.com has been building relationships, retail infrastructure, technology, and other aspects that will let them be valuable for years to come.
This is evidenced on the JD.com site where they walk the individual through the traditional model of retail and where it believes retail is going. See, the traditional model is more stagnant, there’s fixed sales channels and limitation of options for the end consumers. Retailers are physically present in a few locations and consumers are able to reach them and get the best experience if they visit them in the store, at least this may be the case for the older brands. JD.com believes in boundaryless retail. Boundaryless retail, according to JD.com is providing consumers with a concentrated and focused approach that matters to them. The next portion will stem from being customer-centric, the ability of the customer to shop online or offline. This next era of boundaryless retail according to Jingdong, is that there will be a variety of integrations of technology, including the mobile device, automated convenience stores, implementation of virtual reality and augmented reality as well as future innovations.