Today, China's leading local instant retail and delivery platform, Dada Group, released its Q1 2024 performance report. In the first quarter, the total revenue of Dada Group was 2.5 billion yuan, and the revenue of Dada Express increased by 57% year-on-year to 1.2 billion yuan, reaching a new high in the past eight quarters. Fully integrated into the JD ecosystem, the original instant retail brands JD Houda and JD Daojia have been fully integrated and upgraded to "JD Instant Delivery", providing consumers with a new brand image and a shopping experience of "enjoying good things instantly" with the fastest delivery time of 9 minutes.
Thanks to the simultaneous efforts of demand and supply, the core indicators of JD's instant delivery continue to improve and grow strongly. In the first quarter, the average monthly payment users and payment order volume of JD App achieved a year-on-year growth of over 70%, and the year-on-year growth rate in April further increased to over 100%. The GMV of JD App's field increased by over 30% year-on-year in the first quarter, with the GMV of the "Instant Delivery" channel increasing by over 200% year-on-year. In addition, the platform's high-quality supply has been further expanded, with the number of active stores increasing by over 80% year-on-year in the first quarter.
It is worth noting that the JD App homepage will launch a "Instant Delivery Zone", where instant delivery merchants and products will receive greater exposure. Next, JD Instant Delivery will launch a series of consumer oriented promotion activities to continuously benefit consumers.
Dada Group is a leading local instant retail and delivery platform in China, with two core business platforms: Dada Express and JD Instant Delivery. As of the close of Wednesday Eastern Time, Dada rose 4.15% to $2.01 per share.