China's JD is to close its e-commerce services in Indonesia and Thailand, retreating from Southeast Asia after a bruising year for China's retail and technology sectors.
JD will end its services in Thailand on March 3 and in Indonesia at the end of the same month. (Reuters)
JD will end its services in Thailand on March 3 and in Indonesia at the end of the same month. (Reuters)
Nattabhorn Buamahakul, a Bangkok-based partner at Asia Group Advisors, said JD's exits reflected the highly competitive e-commerce landscape in Southeast Asia, especially Thailand.
Jeffrey Towson, a Beijing-based partner at TechMoat Consulting said JD had behaved more prudently than its competitors in Southeast Asia when it came to spending on marketing and subsidies, and he believed they were exiting without losing too much money.
"JD is now exiting the consumer side and focusing on Southeast Asian merchants, brands and logistics infrastructure that connect with Chinese consumers. That plays to their strengths," he said.
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