CHINA TOPIX

03/29/2024 11:10:01 am

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China's JD.com Optimistic About Brexit; Launches 'British Mall'

China's JD.com launches "British Mall"

(Photo : YouTube Screenshot) JD.com "British Mall" will bring UK premium brands to Chinese customers.

While some economic analysts have said China will be affected by Britain's decision to leave the European Union, Chinese online retail giant JD.com thinks otherwise. Instead, the company has said it is an opportunity to enhance China's trade and exports.

"I think there will be a positive outcome for business in China," Tony Qiu, head of JD Worldwide, said.

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The largest Chinese online retailer introduced its British Mall platform on Wednesday, June 29, at a special event in London. The mall is dedicated to helping Chinese shoppers discover and buy a wide selection of authentic and high-quality products ranging from cosmetics, food, and beverage, among others from premium UK brands.

The occasion was graced by executives from the Chinese company as well as representatives from Santander Group, Tencent, and Zitra. The British brands to be featured in JD.com's British Mall include Johnnie Walker whiskey, Marks & Spencer clothes, Clark shoes, Cow & Gate milk, to name a few.

"As disposable income is rising in China there is an increasing demand for quality and imported products and goods from the UK are the most popular," Qiu said, noting that Chinese shoppers are fond of British products. "From a business perspective there will be an immediate impact because the purchase price will be lower as the pound falls in price," he added. "We will pass this on to the consumers and so as UK products because cheaper, they will have a competitive advantage in comparison to other countries."

Aside from displaying products to JD.com's increasing customer base, the British Mall will also lend other support including marketing, logistics and delivery - even without a physical store in China.

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