BRI NEWS Digitization of local retail to gain momentum in Chinese e-commerce: Dada CEO

BRI NEWS

Digitization of local retail to gain momentum in Chinese e-commerce: Dada CEO

People's Daily app

17:19, August 14, 2020

Philip Kuai, Dada Group’s Founder, Chairman and Chief Executive Officer, attended and delivered remarks at the China Chain Store and Franchise Association’s (CCFA) China International Retail Innovation Summit in Shanghai on Wednesday. In his address, 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.

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The annual Retail Innovation Summit gathered industry leaders to discuss the future of the sector, and this year's theme was “Retail Innovation: From Digital to Intelligent.” 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, with online sales accounting for only 20%," said 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 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."

 "We 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 others 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," Kuai added.

Kuai has served as Chairman and Chief Executive Officer of Dada Group since he founded the company in 2014. He is an entrepreneur with extensive experience in the logistics and internet sectors. Prior to founding Dada, he served as a Vice President of Anjuke.com, an online property platform in China, and Vice President of AdChina. Earlier in his career, he worked at Oracle Corporation, McKinsey & Company, and Accenture. He also received a master’s degree in logistics engineering from the Massachusetts Institute of Technology. Kuai was named to Fortune’s “2019 40 under 40 in China” list, an annual selection of the most influential young people in business. 

Dada continues to play an important role in providing essential products to customers, and aiding in the recovery of the Chinese economy by boosting 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 together with major supermarket chains and brand owners, including Walmart, CR Vanguard and Unilever. 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".

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