On October 12th, the Vice President of Alibaba Group and the President of Taobao Platform Business Unit stated at the 2024 Tmall Double 11 press conference that macro policies have created important opportunities for the development of the e-commerce industry since the beginning of this year. Taobao and Tmall have effectively addressed the "three major problems" of the e-commerce industry by unbinding only refunds, upgrading shipping insurance, and getting rid of low price competition, bringing a positive and stable business environment to merchants.
Data shows that since the beginning of this year, Taobao has opened over 6 million new stores, and the number of new Tmall brands that joined in September has increased by 239% compared to the previous month. The number of Tmall Double 11 purchasing users is expected to reach the largest scale in history this year.
To optimize the business environment, Taobao has focused on three things this year:
Take the lead in relaxing the "refund only" policy for high-quality service merchants. At the end of July this year, Taobao launched a store experience sub system, which only refunds high-quality service merchants with a score of 4.8 or above without active intervention from the platform. After two months online, Taobao intercepted an average of 400000 abnormal refund orders per day, resulting in a sharp decrease in the number of unreasonable "refund only" orders. The 7-day completion rate of merchant appeals exceeded 95%.
Upgrade shipping insurance to greatly reduce the cost of return shipping for merchants. In September, Taobao launched "Return Treasure" and collaborated with logistics and insurance companies to further reduce the cost of merchant returns. In just one month, nearly one million merchants have subscribed to this service. Based on the data from the past week, the overall cost of return shipping for merchants has decreased by 23%. This year's Tmall Double 11, "Return Treasure" will further reduce fees to benefit small and medium-sized merchants, with the highest reduction in merchant return shipping costs reaching 58%.
Provide more traffic support to high-quality service merchants to promote the industry to get rid of low price competition. Chu Duan pointed out that Taotian's pricing power refers to having competitiveness in every price band of the category, rather than blindly offering low prices. The vicious price war not only squeezes the profit margin of merchants, but also fails to meet the quality needs of consumers. Taobao promotes quality and service to become the core competitiveness of merchants again, helping them break free from low price competition.
At present, the proportion of merchants with a score of 4.8 or above in Taobao stores has rapidly increased from 30% to 36%, and the service level of merchants continues to improve.
The series of measures to optimize the business environment have stimulated the enthusiasm of brand merchants to participate in Tmall's Double 11. 300000 Tmall brand merchants actively participated, and the number of products in the event exceeded expectations, including over 1.5 million high-end products and over 20000 super single products.
It is reported that this year's Tmall Singles' Day, the Hui Shang policy will be further strengthened. The platform will distribute 30 billion red envelopes and consumption vouchers to attract more transactions for merchants, and create more business growth for merchants through billions of traffic and 3 billion red envelope subsidies.
We believe that a fair and dynamic environment is the key to nurturing healthy and sustainable growth, and we hope that this industry can develop in a more sustainable way, "said Chu Duan." Taobao is still the same youth as before, and we will continue to work with merchants to create a better industry ecosystem and embrace a better future