Dada Group's Phillip Kuai Delivers Remarks on Micro E-commerce at CCFA's 2020 China National Retail Congress

Rhea-AI Summary

Dada Group (Nasdaq: DADA) announced that its CEO, Phillip Kuai, spoke at the China National Retail Congress on November 19, 2020. He highlighted Dada's innovative local on-demand delivery model and its role in advancing e-commerce in China. Kuai emphasized the significant offline retail market, where 80% of activities occur, presenting opportunities for digitization. Dada reported strong Q3 results, with both Dada Now and JDDJ increasing market share. The company achieved a record of 10 million orders on Singles Day, reflecting rapid growth in the local on-demand retail sector.

Positive

• Dada reported strong third-quarter results, with increased market share for both Dada Now and JDDJ.
• Set a delivery record of 10 million orders during the 2020 Singles Day Festival.
• Dada's model supports digitization of offline retail, capturing significant market potential.

Negative

• None.

SHANGHAI, Nov. 25, 2020 /PRNewswire/ -- Dada Group (Nasdaq: DADA) ("Dada" or the "Company"), China's leading local on-demand delivery and retail platform, is pleased to announce that Phillip Kuai, Dada's Founder, Chairman and Chief Executive Officer, attended and delivered remarks at China Chain Store & Franchise Association's ("CCFA") 2020 China National Retail Congress in Shanghai on November 19. In his address, Mr. Kuai discussed how Dada's model delivers value to retailers, brands and consumers by shaping 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 trainings and information for members, and establishing platforms for exchange and cooperation.

China National Retail Congress is the most influential series of seminars and exchange events in China's chain store and retail industries. This event gathers top industry players to exchange experiences and explore insights on the most prevalent topics in the industry. It has become an important indicator for the industry's development and a hotspot for corporate innovation.

Mr. Kuai's remarks were titled "Embracing the New Decade: The Age of Micro E-commerce." He opened with a discussion around the evolution of e-commerce in China and shared insights into Dada's focus on building a low-cost, highly-efficient logistics infrastructure, expanding the Company's brand and retailer partnerships and the increasing market potential of online on-demand retail.

"From long-distance to short-distance e-commerce, and now the era of micro e-commerce, the retail landscape in China has been steadily developing for more than 20 years, yet only a small percentage of that activity currently takes place online," noted Mr. Kuai. "With 80% of retailing activities in China still happening offline rather than online, Dada believes that digitization and the implementation of on-demand delivery are key opportunities to further advance e-commerce in China in the years to come."

In 2014, Dada founded Dada Now, an open local on-demand delivery platform. Leveraging cutting-edge proprietary technologies and deep insights into the logistics industry, Dada Now has developed into a leading local on-demand delivery platform in China open to merchants and individual senders across various industries and product categories. In 2016, Dada extended its core capabilities from local on-demand delivery to local on-demand retail by acquiring JDDJ, the former local retail platform and a strategic asset of JD Group. JDDJ has since quickly built its reputation by delivering top-notch services to retailers and brand owners and offering a high-quality on-demand retail experience for consumers.

As a leading platform for local on-demand retail and delivery, Dada Group is committed to never competing with retailers and brands. Instead, it empowers them, as well as its consumers, with its smart logistics systems and efficient home-delivery shopping service. Utilizing omni-channel digital solutions, crowdsourcing capabilities and the latest technological advancements, Dada's lightweight and scalable platform pairs riders with orders, monitors each order in real time and provides quality assurance to the benefit of brands, retailers and customers alike.

"China's supply chains are highly complex, especially as it relates to the perishable nature of categories such as fresh foods," Mr. Kuai commented. "We're one of the only platforms in the Chinese e-commerce space that doesn't have any supply chains or inventory. Instead, we collaborate with supermarkets and other leading retailers that are already managing their inventories well. Because of this dynamic, we effectively empower our retail partners and earn their trust."

Earlier this month, Dada reported strong financial results for the third quarter. Both JDDJ and Dada Now increased their market share year-over-year, a testament to the strength of these unique platforms and the continued opportunities for growth. Additionally, during the 2020 Singles Day Festival in November, Dada Now set a single-day delivery record of 10 million orders and JDDJ's sales reported on Singles Day more than doubled year-over-year.

Mr. Kuai concluded, "We founded Dada six years ago with a mission to bring people everything on-demand. Since then, Dada has played a critical role in expanding the Chinese online economy and digitizing traditionally offline retail platforms. We firmly believe that the era of micro e-commerce in China is beginning to take hold and we see significant potential to continue transforming the world of e-commerce we know today."

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. In June 2020, Dada Group began trading on the Nasdaq Global Market, under the ticker symbol "DADA."

Contacts

Dada Group
E-mail: PR@imdada.cn

Joele Frank, Wilkinson Brimmer Katcher
Ed Trissel / Kate Thompson / Julia Sottosanti
Phone: 212-355-4449
E-mail: kthompson@joelefrank.com

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SOURCE Dada Group

FAQ

What did Phillip Kuai discuss at the China National Retail Congress regarding DADA?

Phillip Kuai discussed Dada's local on-demand delivery model and its role in transforming e-commerce in China.

What were the financial results for DADA in Q3 2020?

Dada reported strong Q3 results with increased market share for Dada Now and JDDJ.

How many orders did Dada Now deliver on Singles Day 2020?

Dada Now set a record of 10 million orders delivered on Singles Day 2020.

What percentage of retail activities in China is still offline according to DADA?

According to Dada, 80% of retail activities in China still occur offline.