The steep depreciation of the pound in the aftermath of the Brexit vote means British goods priced in the currency are more affordable to consumers in China and the rest of the world. So it’s an auspicious moment for JD.com to launch a new channel dedicated to British products. The Chinese e-commerce giant is already busy leveraging the Brexit effect to offer discounts and promotions to budget-conscious shoppers.
The Alibaba rival’s new British Mall, a channel on its JD Worldwide platform, is offering up a series of Brexit-themed sales. Certain infant formula products are marked down 50 percent while select merchandise from Liverpool Football Club is going for 20 percent off. Not all British products will be discounted immediately though — a spokeswoman warned that some prices were fixed in yuan at the time that JD.com signed contracts with brands. But she said that JD.com will adjust its prices accordingly in the future if the pound’s depreciation continues.
Citing increasing demand for high-quality British products in China, JD.com said the new channel features a range of product categories, including food, cosmetics and sporting goods. JD.com already sells goods from Marks & Spencer and whiskey from several leading brands such as Johnnie Walker, Chivas and Glenfiddich.
“British Mall will be the shop window in China for the best of British products,” said Tony Qiu, general manager of JD.com Worldwide. “Demand for high-quality, imported goods is soaring in China, and Chinese consumers know that British brands represent quality, style, and reliability. UK brands and retailers have a massive opportunity to tap into this market.”
JD.com has already launched similar dedicated country malls for the United States, France, Germany, Australia, South Korea and Japan.
The e-commerce player said it is also offering British brands services to help them grow their sales in China without establishing a physical presence in the country. These series include marketing, logistics and delivery and customer targeting.