Explains how Dada is Delivering Value to Retailers, Brands, and Consumers by Creating a New Era of Local On-Demand Retail in China.
Dada Group, China's leading local on-demand delivery and retail platform, announced that Philip Kuai, Dada's Founder, Chairman and Chief Executive Officer, attended and delivered remarks at China Chain Store & Franchise Association's - China International Retail Innovation Summit in Shanghai in August.
In his address, Mr. Kuai discussed the importance of digitization of local retail and Dada's role in creating a new era of local on-demand retail in China.
With more than 1000 enterprise members, CCFA is China's national representative for the retail and franchise industry. Its functions include participating in policymaking discussions, safeguarding the interests of the industry, providing professional training and information for members, and establishing platforms for exchange and cooperation. The annual Retail Innovation Summit gathers industry leaders to discuss the future of the sector, and this year's theme was "Retail Innovation: From Digital to Intelligent." Mr. Kuai spoke on the "Face to Face with CEOs" panel, where he shared insights into Dada's complementary platforms (JDDJ and Dada Now), as well as the Company's unique value proposition focused on offering customers increased efficiency and role in expanding innovation in the on-demand retail sector.
"Most retailing activities in China still happen offline rather than online, with online sales accounting for only approximately 20%," said Mr. Kuai. "At Dada, we view the digitization of local retail as the most significant opportunity in Chinese e-commerce over the next decade. Our goal is to empower the retailers and brands that we partner with by helping them digitalize their brick-and-mortar stores while constantly developing and enhancing our on-demand delivery services for the benefit of our customers."
Mr. Kuai added, "In addition to our commitment to improving our platforms and expanding our reach, we care deeply about making a positive social impact in the communities we serve and are incredibly proud of the role we have played during the COVID-19 outbreak in China. Not only has Dada offered a safe and efficient way for consumers to order essential goods, such as groceries and medicine, from the comfort of their home, we have also added new riders to the Dada Now family that may have lost other jobs as a result of the pandemic. We're grateful for all of our dedicated riders, who are truly the backbone of our mission to Bring People Everything on Demand."
A serial entrepreneur with extensive experience in the logistics and internet sectors, Mr. Kuai has served as Chairman and Chief Executive Officer of Dada Group since he founded the Company in 2014. Prior to founding Dada, he served as a Vice President of Anjuke.com, an online property platform in China, and a Vice President of AdChina.
Earlier in his career, he worked at Oracle Corporation, McKinsey & Company, and Accenture. He received a Master's degree in logistics engineering from Massachusetts Institute of Technology. Mr. Kuai was named to Fortune's "2019 40 under 40 in China" list, an annual selection of the most influential young people in business. Fortune noted that since Dada's establishment in 2014 and the merger between Dada Now and JDDJ in 2016, the Company has become a leader in the grocery and delivery industry.
Dada continues to play an important role in providing essential products to customers and aiding in the recovery of the Chinese economy by encouraging consumption. The Company has achieved several sales milestones in recent months, which reflect increased consumer demand for digital retail solutions.
JDDJ launched its Cool Season Shopping Festival in July alongside major supermarket chains and brand owners including Walmart, CR Vanguard and Unilever. Additionally, of the CCFA's list of the Top 100 Chinese Supermarket Chains in 2019, nearly 60 supermarkets have cooperated with JDDJ, including top players such as Walmart, Yonghui and CR Vanguard. More than 60% of those that have partnered with JDDJ ranked within the top 50.
Dada Group completed its public listing in the U.S. in June 2020 and began trading on the Nasdaq Stock Exchange under the ticker "DADA."
About Dada Group
Dada Group is a leading platform of local on-demand retail and delivery in China. It operates JDDJ, one of China's largest local on-demand retail platforms for retailers and brand owners, and Dada Now, a leading local on-demand delivery platform open to merchants and individual senders across various industries and product categories. The Company's two platforms are inter-connected and mutually beneficial. The Dada Now platform enables improved delivery experience for participants on the JDDJ platform through its readily accessible fulfillment solutions and strong on-demand delivery infrastructure. Meanwhile, the vast volume of on-demand delivery orders from the JDDJ platform increases order volume and density for the Dada Now platform.