Jun 20, 2022 07:42 PM

BUSINESS

JD.com Sales Grow at Slowest Pace Ever for Annual Summer Shop-Fest

This year, the impact of months of Covid lockdowns had an impact on both consumer confidence and supply, analysts said. Photo: VCG

This year, the impact of months of Covid lockdowns had an impact on both consumer confidence and supply, analysts said. Photo: VCG

Chinese e-commerce giant JD.com Inc. has reported the lowest sales growth on record for the e-commerce sector’s biggest summer shopping promotion, as Covid-19 measures dragged on consumer confidence and supply.

The value of orders placed on JD.com during the sales period, known as “618,” rose just 10% year-on-year, down from last year’s 27.7% increase, company data showed, with this year’s orders totaling 379.3 billion yuan ($56.8 billion).

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