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- Chinese on-demand delivery and retail platform, Dada Nexus Ltd (NASDAQ:DADA) and JD.Com Inc (NASDAQ:JD) have jointly launched Shop Now, the JD Xiaoshigou, a new business for JD's on-demand consumer retail section.
- Shop Now will operate on the model of "order online, delivery from store, within one hour" and is expected to accelerate Dada Group's and JD's omnichannel operation in the on-demand retail space.
- With the launch of Shop Now, the parties are advancing on-demand retail from "one-hour delivery" to "minutes delivery."
- Through joint efforts in consumer experience optimization, Shop Now has recorded a 150% increase in sales in September compared to January, in the testing phase, and attracting a rising number of JD's 530 million annual active consumers.
- Price Action: DADA shares closed lower by 2.14% at $20.13, while JD closed lower by 0.78% at $78.00 on Monday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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