The news: Chinese ecommerce giant JD.com will officially launch its UK ecommerce site, Joybuy, next month as it looks to international markets to offset weakness at home.
The platform will launch with over 100,000 products and offer same- and next-day delivery.
Why it matters: JD’s motivations for expanding overseas are similar to those of PDD and Alibaba: All three companies are struggling to grow in China due to weak consumer demand and stricter government scrutiny. We expect JD’s ecommerce sales to rise just 1.7% this year, well below the 7.6% growth we expect for total retail ecommerce sales.