Paipai Re-launch to Bring JD.com Experience to C2C
BEIJING, July 17, 2014 /PRNewswire/ — JD.com, Inc. (“JD.com” or the “Company”) (NASDAQ: JD), China’s largest online direct sales company, today announced that Paipai, the consumer-to-consumer (“C2C”) marketplace platform and a subsidiary of the Company has re-launched its site with the goal of bringing JD.com’s superior shopping experience to China’s C2C space. The enhanced platform reduces marketing costs for sellers and prioritizes search relevance over advertising, while providing the option to complete orders through JD.com’s own nationwide fulfillment network.
“Paipai’s re-launch will help bring the superior experience consumers have come to expect from JD.com to a Chinese C2C e-commerce platform,” commented JD.com Vice President and President of Paipai Kate Kui. “The new Paipai will provide consumers access to same-day and next-day delivery, and the excellent after sales service that they already enjoy with JD.com. We expect Paipai’s re-launch will help sellers realize higher profit margins through lower marketing costs and bring consumers a superior e-commerce experience, which should help drive expansion of our business.”
Following the acquisition of Paipai from Tencent Holdings Limited (“Tencent” SEHK stock code: 00700) in March, 2014, JD.com worked to improve user experience on the Paipai platform, drawing on its broad sector expertise. As part of the re-launch, the Company announced improvements to Paipai’s search function, including an algorithm that prioritizes sellers based on factors such as buyer feedback, variety of relevant products sold and other factors that aim to provide a better user experience. As with JD.com Marketplace, Paipai sellers will also have access to JD.com’s superior self-operated last-mile logistics network and finance tools.
“JD.com has always been focused on superior service and products, and we have worked to ensure that Paipai’s search results strongly prioritize sellers that receive the best feedback from users to give consumers greater confidence,” Ms. Kui said. “Paipai now helps connect sellers with the most relevant buyers by leveraging shopping histories for an optimized experience. We have begun implementing aggressive plans to provide promotional advertising rates over the next year as we look to build out our seller base.”
Leveraging JD.com’s expertise in stringently vetting suppliers, Paipai has also begun implementing improved anti-counterfeiting measures to ensure the authenticity of products sold.
“We believe that over time, consumers will associate Paipai with the same traditional strengths as JD.com in the areas of product authenticity, speedy delivery and superior mobile experience,” said Ms. Kui.
The Company said that over the next three to five years, Paipai will prioritize investment, with a focus on building the strength of its brand, user experience and overall offer.
Launched in 2006, Paipai (www.paipai.com), a wholly-owned subsidiary of JD.com, is a C2C online marketplace in China. Paipai offers sellers the option to use JD.com’s nationwide fulfillment infrastructure and finance tools. JD.com acquired Paipai in March 2014 as part of its strategic partnership with Tencent.
About JD.com, Inc. (NASDAQ: JD):
JD.com, Inc. is the leading online direct sales company in China. The Company strives to offer consumers the best online shopping experience. Through its content-rich and user-friendly website www.jd.com and mobile applications, JD.com offers a wide selection of authentic products at competitive prices and delivers products in a speedy and reliable manner. As of March 31, 2014, JD.com offered approximately 40.2 million SKUs across 13 categories of products. The Company believes it has the largest fulfillment infrastructure of any e-commerce company in China. JD.com operated 7 fulfillment centers and a total of 86 warehouses with an aggregate gross floor area of approximately 1.5 million square meters in 36 cities, and 1,620 delivery stations and 214 pickup stations in 495 cities across China, staffed by its own employees. The Company provided same-day delivery in 43 cities under its 211 program and next-day delivery in another 256 cities across China as of March 31, 2014.
For more information, please visit http://ir.jd.com.
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