After the service fee refund, Pinduoduo announced a reduction in merchant store deposits to further assist merchants in improving quality and efficiency. On September 5th, Pinduoduo's latest merchant notice showed that the basic deposit for merchant stores will be reduced from 1000 yuan to 500 yuan, and the initial deposit for newly joined personal and corporate stores will also be reduced to 500 yuan.
On September 5th, Pinduoduo announced that it will lower store deposits to further reduce business operating costs.
It is reported that Pinduoduo is conducting centralized testing on the reduction of merchant store deposits this time. The first batch of merchants who enjoy this policy have covered nearly 70 categories, and some merchants have completed withdrawals. Millions of merchants will benefit from this, especially those who operate multiple stores, and their operating costs will be further reduced.
Multiple relief measures have been implemented successively, and there is no limit on the number of appeals for after-sales disputes among merchants
Since announcing its transition to high-quality development last year, Pinduoduo has continued to increase its support for the supply side. This year, Pinduoduo has many new initiatives. Southern Metropolis Daily reporters found that on August 13th, Pinduoduo launched a refund policy for technical service fees for merchants who registered to participate in the on-site resource slot activity. For any product orders generated by participating in the 10 billion yuan subsidy, flash sale, platform promotion, 9.9 yuan special sale, trendy price, multiplayer group and other on-site activities, after the user initiates a refund, the platform will refund 1% of the basic technical service fee for first use, then pay orders and 0.6% of the basic technical service fee for other orders proportionally.
Subsequently, Pinduoduo upgraded the "Technical Service Fee Refund Benefit". Orders generated by merchants participating in resource slot activities, in addition to enjoying the service fee refund benefit, reduced the rate of using and paying technical service fees from 1% to 0.6%. In other words, for orders generated by merchants using and paying later, the technical service fee was directly discounted by 60%.
Recently, Pinduoduo has upgraded its merchant technology service fee refund policy, reducing the use before pay technology service fee to 60% off.
A week ago, Pinduoduo launched the "Promotion Service Fee Refund Benefit" for merchants, which has officially come into effect. For orders where consumers receive a full refund before shipment, the platform will automatically refund the corresponding amount of promotion software service fee to the merchant as a promotional red envelope, without the need for the merchant to file an appeal.
In order to further optimize the user experience of merchants, Pinduoduo has upgraded its after-sales service system, opened a green channel, and established a special after-sales service team to fully support merchants in appealing against abnormal orders, malicious complaint orders, consumer negative experience orders, etc. After successful appeal, the platform will compensate for the relevant orders.
It is worth noting that Pinduoduo has also made special adjustments to the appeal service for merchants' after-sales disputes, no longer limiting the number of times they can appeal. Merchants can file an appeal to the platform if they have any questions about after-sales handling. At present, this new benefit is undergoing preliminary testing, and some merchants can already enjoy this benefit. It is expected to cover all merchants in the near future.
High quality development enters an accelerated period, building a healthy and sustainable platform ecosystem
According to Pinduoduo's Q2 financial report, revenue reached 97.1 billion yuan, a year-on-year increase of 86%. The revenue growth rate in the previous quarter was 131%, showing a downward trend compared to the previous quarter. The net profit attributable to common stocks was 32 billion yuan, a year-on-year increase of 144%. The month on month growth rate of profits has also declined. The management of Pinduoduo expects to enter a period of declining revenue and profit in the future. Next, Pinduoduo's high-quality development will enter a new stage, and it will continue to build a healthy and sustainable platform ecosystem through both "strong support" and "resolute governance".
At the time of the financial report release, Pinduoduo announced that it will continue to deepen its high-quality development strategy. Chen Lei, Chairman and Co CEO of Pinduoduo Group, stated that in order to ensure the long-term healthy development of the platform, Pinduoduo will continue to improve its ecological construction through a combination of "support and governance". In the next year, Pinduoduo will invest billions of resources to support new quality merchants and resolutely carry out merchant ecological governance. Therefore, the management has reached a consensus and is prepared to sacrifice short-term profits for long-term investment.
It is reported that Pinduoduo will invest billions of resources to vigorously support new quality merchants and new quality industrial belts with product and technological innovation capabilities, significantly reducing transaction fees for high-quality merchants. It is expected to reduce transaction fees by 10 billion yuan in the next year, and continue to strengthen the positive incentives for high-quality ecological development, comprehensively improving the quality and efficiency of the supply chain upstream.
At present, Pinduoduo's package of reduction and exemption policies have been implemented one after another, further accelerating high-quality development. The platform ecosystem construction will also quickly enter a new stage, continuously helping merchants and industrial belts improve quality and efficiency, while bringing benefits to the consumer side.
A think tank team also pointed out that Pinduoduo has reduced the operating costs of businesses through a series of new policies, which has given businesses more motivation to innovate their products and technologies, providing consumers with better quality products, gaining more favor from consumers, promoting a win-win situation for businesses, users, and platforms, and promoting the industry towards a healthy and sustainable ecosystem.