"The secret to the success of e-commerce lies in continuously reducing costs, improving efficiency, and optimizing the experience. Only in this way can we run longer." On December 14th, Feng Quanpu, Vice President of JD Group, stated at the second Hengqin World Bay Area Forum Quality Consumption Theme Forum.
In the afternoon of that day, the second Hengqin World Bay Area Forum Quality Consumption Theme Forum, guided by Southern Finance and Economics All Media Group and hosted by China Free Trade Zone Information Port and 21st Century Economic Report, was held at the Hyatt Hotel in Hengqin, Zhuhai. The theme of this forum is "Quality driven iteration, reshaping ecological value", focusing on the hot trend of quality consumption, exploring the transformation and upgrading of the industry and the improvement of economic development.
At the meeting, Feng Quanpu shared JD's exploration and practical experience over the past 20 years from three aspects: "service quality production", "optimizing quality sales", and "stimulating quality consumption".
He stated that as a bridge connecting producers and consumers, JD.com, on the one hand, collaborates with manufacturers to work together from the production end (manufacturer) to the circulation end (platform), bringing new shopping experiences to consumers with innovative products and high-quality services, while further enriching market supply and tapping into consumer potential. On the other hand, strict quality control should be implemented in the pre-sales, in sales, and after-sales stages to promote the upgrading of user experience.
According to its disclosure, JD Retail has invested nearly 80 billion yuan in user services over the past five years. After years of accumulation, JD now has over 200 basic services targeting user pain points, forming a full chain guarantee. Among them, there are over 80 industry-leading and unique services, such as price protection and on-site replacement, which are highly favored by users. The company has been leading the industry for more than 10 years.
The latest data from the National Bureau of Statistics shows that in October this year, the total retail sales of consumer goods in China reached 4333.3 billion yuan, a year-on-year increase of 7.6%. Among them, the retail sales of consumer goods other than automobiles reached 3919.8 billion yuan, an increase of 7.2%. From January to October, the total retail sales of consumer goods reached 38544 billion yuan, a year-on-year increase of 6.9%. Among them, the retail sales of consumer goods other than automobiles reached 34647.2 billion yuan, an increase of 7.0%.
At present, JD.com is stimulating quality consumption through three major aspects: creating a "high cost performance" consumer experience, promoting green consumption, and promoting global one-stop shopping of high-quality products.
"With the orderly recovery of the consumer market, consumer behavior is undergoing significant changes. On the one hand, people's consumption behavior is becoming more rational, reducing blind hoarding; on the other hand, more and more consumers are paying more attention to cost-effectiveness. They can buy expensive things, but cannot buy expensive ones anymore. While pursuing affordable prices, they also place greater emphasis on the quality and service of goods." Feng Quanpu said.
To this end, JD.com continues to focus on its low price strategy and has launched several measures, including a 10 billion yuan subsidy and a 9.9 yuan free shipping channel, as well as offering double compensation for purchases and lowering the threshold for self operated free shipping. At the same time, its own brand "JD Jingzao" relies on the advantages of factory direct connection and R&D innovation, starting from market consumption and emotional needs, and using high-quality and price advantages from the source of the industry to make exquisite and high-quality life "within reach".
Feng Quanpu believes that JD.com is a beneficiary of upgrading quality consumption and hopes to share a quality life with everyone through the same frequency resonance of quality consumption.