China’s $62 billion retail giant set to shake up Australian market
Pressure is increasing on Aussie department stores as new overseas rivals and online retailers turn up the heat.
Things are set to get tougher with one of China’s largest retailers setting up its very first Australian office.
JD.com is the biggest business-to-consumer site in China, and it’s growing at a rapid speed.
For perspective, Woolworths has an annual sales revenue of $56 billion, JD.com’s revenue is $72 billion.
Ross Greenwood speaks with President of International Business for JD.com, Winston Cheng.
“We’ve got strong demand that we’re witnessing for Australian products.
“They’re upgrading their spending and they’re really buying more foreign goods.
“Australia is one area where they’re really looking for health goods, nutrition goods.
“We’re opening an office to help Australian products and brands access that demand in China.”
Listen to the full interview below