Dada Group (DADA, Financial), China's leading local on-demand retail and delivery platform, has announced its third-quarter results for 2024, showcasing sustained business growth and improved profitability. During this period, JD Express, part of the JD.com ecosystem, experienced over a 100% year-over-year increase in both the monthly average number of ordering users and order volume. This growth highlights JD Express's expanding reach within the JD.com user base, offering more users immediate access to quality goods.
By the end of September, JD Express's operational stores exceeded 600,000, marking a 70% increase compared to the previous year. Enhancements in user experience have also led to a noticeable rise in high-frequency users and repeat purchase rates, with high-frequency users doubling year-over-year on the JD App. Additionally, during the recent JD 11.11 shopping festival, JD Express achieved a record peak in daily online orders.
Dada Now, another service under Dada Group, saw robust delivery order growth, with revenue for the first nine months of the year increasing by 46% year-over-year. In the third quarter, Dada Now expanded its partnerships with chain retailers and enhanced delivery service quality, resulting in a 36% year-over-year increase in total completed orders, amounting to 648 million orders.
Owing to improvements in overall marketing and operational efficiency, Dada Group's non-GAAP net loss ratio narrowed sequentially in the third quarter, indicating continuous improvements in profitability.
