Chinese e-commerce giant JD.com is shutting down its consumer e-commerce services in Indonesia and Thailand to focus instead on growing its cross-border supply chain business serving Southeast Asia.According to announcements on Monday, JD.com will end its services in Thailand from March 3 and in Indonesia from the end of the same month. Both units will stop taking orders on Feburary 15.In a separate statement, JD.com said it will continue to serve the global markets, including Southeast Asia, through its supply chain infrastructure. “We are developing in international markets by focusing on building a cross-border supply chain network with logistics and warehousing at the core,” the company wrote.Currently, the company operates or manages warehouses or industrial parks in Vietnam, Malaysia and Indonesia.In November, it was reported that JD.com was working to exit JD.ID, a joint venture formed in 2015 with Provident Capital, and JD Central, which was formed in 2017 with Bangkok-base
Growth in Southeast Asia’s internet economy is slowing after years of expansion, showing that even emerging digital markets aren’t immune to economic headwinds.