Dada Group doles out 100m yuan in coupons to support consumption amid Shanghai Shopping Festival
duonghanhnguyen 8-09-2022, 13:24
  • Coupons worth 100 million yuan are ready for grabs on Dada Group's JDDJ during Shanghai's Double Five Shopping Festival, in an effort to boost consumption.
  • Batches of digital vouchers are also being issued by the city to stimulate spending during the ongoing festival, with JDDJ designated as an official partner platform for using the vouchers.
  • JDDJ sees significant sales boost driven by platform coupons and city's vouchers.

SHANGHAI, Sept. 8, 2022 /PRNewswire/ -- JDDJ, the on-demand retail platform operated by Dada Group (Nasdaq: DADA), is distributing shopping coupons worth 100 million yuan, in collaboration with partner retailers and brand owners, to support consumption and brick-and-mortar retail recovery. Consumers can use the coupons together with the e-vouchers issued by the Shanghai government when proceeding to purchase checkout on JDDJ.

Shanghai kicked off its annual Double Five Shopping Festival in July with various promotional campaigns and activities to boost consumption. As part of the efforts, the city is distributing rounds of digital consumption vouchers to citizens for using on diverse platforms including JDDJ.

Data on JDDJ and Shop Now from August 28 to September 4 shows the effectiveness of the spending-stimulant campaign that has boosted growth in multiple categories of products: compared to the same period last year, sales of menswear increased by 4.8 times, home appliances grew by 5.7 times, perfumes and make-up sets were up by over three times, and consumer electronics recorded a growth of 180% year-over-year.

Besides bringing consumers a convenient shopping experience and discounts, JDDJ has also helped physical retailers and brand owners achieve significant growth during the shopping event. JDDJ and Shop Now's data from August 28 to September 4 shows Mi Stores, Sephora, and Vats Liquor Chain Stores in Shanghai all realized a sales growth of over ten times, and CR Vanguard's sales increased by more than five times, year-on-year.

In addition to Shanghai, since 2022, JDDJ and Shop Now have partnered with cities such as Changsha, Yantai, Zhengzhou, and Yibin to distribute e-vouchers. Moving forward, JDDJ and Shop Now will continue stepping up efforts to make greater contributions to the high-quality growth of the real economy.

 

View original content:https://www.prnewswire.com/news-releases/dada-group-doles-out-100m-yuan-in-coupons-to-support-consumption-amid-shanghai-shopping-festival-301620044.html


Source: DADA GROUP Related Stocks: NASDAQ:DADA
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