- The stock price of Dada Nexus Ltd (NASDAQ: DADA) increased by over 13% today. This is why it happened.
The stock price of Dada Nexus Ltd (NASDAQ: DADA) increased by over 13% today. Investors are responding positively to a report that Chinese consumers are increasingly preferring the on-demand retail model represented by JD’s Shop Now and Dada’s JDDJ — which provide a convenient shopping experience of “placing orders online, home delivery within one hour.”
Between November 20-30, the sales of both foot tubs and electric barbecues increased by more than 10x compared with the same period last year. And sales of electric ceramic stoves and humidifiers increased by over 7x year-on-year. The one-hour shopping service enables consumers to get all types of products as soon as they place orders online.
Footbath products are also one of the hottest consumption areas and a healthy living habit for Chinese consumers during the winter season. And sales of electric kettles increased by more than 4x over last year, and bath salts more than doubled, according to data from Shop Now and JDDJ. Besides soaking feet, liquor, and lamb are seasonal foods for winter. And sales of Chinese Baijiu (hard liquor) were tripled than last year, while electric hot pots and mutton doubled sales.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.