Jefferies: JD Achieves New Highs in 618 Festival; BABA Benefits from AI and Improved Customer Experience

$JD-SW(09618.HK)$ recorded record highs in gross merchandise volume (GMV) and orders during the 618 shopping festival, with over 500 million users participating. This success is attributed to diversified shopping choices, fast delivery, and product quality.

$BABA-SW(09988.HK)$ 's 618 promotional campaign ran from May 20 to June 20. BABA supported merchants with comprehensive marketing solutions, including a new feature on the Alimama platform that allows transaction-first, fee reimbursement later. AI and enhanced consumer experience initiatives boosted merchant sales.

$KUAISHOU-W(01024.HK)$ influenced user spending through live streaming, with a 32% increase in merchants and a 59% rise in consumers paying for shelf e-commerce from May 20-25.

Jefferies expects major e-commerce platforms to show solid operational capability as consumer sentiment improves.