JD.com will end operations in Indonesia and Thailand without publicly giving any reason.
It's likely that JD is pulling out of those markets because it couldn't gain market share from Alibaba's Lazada, Sea Ltd's Shopee, and GoTo Group's Tokopedia.
- JD has operated in Indonesia since 2015 and in Thailand since 2021.
- Global operations and other ventures, such as JD Property, only represent 2% of the company's revenue.
- JD had to cut costs and lay off workers after a challenging economic outlook in China and the country's strict COVID lockdowns.
- Even if the company will no longer serve customers in the region, it will still work with its merchants, brands, and logistics to serve Chinese consumers.