JD.com hits sales goal

Chinese online retailer JD.com is on track to hit its sales target of 100 billion yuan (US$16.5 billion) this year.

That’s higher than its 60 billion yuan sales in 2012.

The company, formerly known as 360Buy, is trying to stand out from its peers by operating its own networks of couriers and warehouses.

However, with a market share of just 17.5 per cent, it still remains far behind its rival Tmall, of Alibaba, which boasts 51.1 per cent of the market. Amazon China, has a 2.6 per cent share.

But, it is foreseeing a continues growth as more and more people turns to the web to buy goods.

“The market itself is growing, and we’re also growing our market share,” said COO Shen Haoyu.

The retailer this year, has also expanded into Singapore through a joint venture with IT products group iKnow.

Researcher eMarketer predicts B2C e-commerce websites in China to generate sales of US$180 billion this year.

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