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With the vigorous development of e-commerce, consumer rights protection has become the focus of major e-commerce platforms.

Recently, JD.com has made important revisions to the "JD.com Open Platform Double Compensation Service Rules" to further expand the scope of services and ensure that consumers can enjoy fairer and more transparent price protection when shopping on JD.com.

According to the above rules, the adjustment points include the scope of price comparison platforms and the definition and price of the same product, and the core is to expand the service scope of "double compensation for overpriced products". The rule will take effect on August 8.

Specifically, under JD.com's "double compensation for overpriced purchases" rule, on the one hand, Douyin has been added to the price comparison platform, and the price comparison range with platforms such as Pinduoduo and Taobao has been expanded. For example, products originally needed to be compared with Pinduoduo's 10 billion subsidy channel, but after the rule adjustment, they need to be compared with Pinduoduo's entire network. Similarly, products originally needed to be compared with Taobao's 10 billion subsidy channel, but after the rule adjustment, they need to be compared with Taobao (excluding Alibaba Auctions, Taobao Factory, and Taobao Shopping). On the other hand, the original requirement for the same product to be compared was to display sales of ≥100 pieces and ≥100 reviews on the front desk, but now the standards have been reduced to ≥30.

The revision of the rules is undoubtedly a great benefit from the consumer's perspective. It not only improves consumers' sense of shopping security, but also encourages consumers to do more comparison shopping on the JD platform. JD can also continue to lead the service standards of the e-commerce industry and provide consumers with a better and more transparent shopping experience.

In fact, JD.com has a differentiated positioning and tonality that is more mid-to-high-end in the domestic e-commerce market, and is most popular for its quality and timeliness. As an important leading e-commerce company, in its competitive strategy with other platforms, the low-price strategy is also an important layout of JD.com in recent years. Prior to this, in February 2023, JD.com officially launched the "Double Compensation for Expensive Purchases" service. This can also be seen as the "first shot" of JD.com's implementation of the low-price strategy.

Just in July, there was news that Jingxi's business, which had experienced ups and downs, had changed again. The new name was "Jingxi Self-operated", which was internally regarded as an important way for JD.com to lower prices. At present, "Jingxi Self-operated" has begun to attract investment in low-tier cities and launched a full-hosting model for white-label merchants. In short, merchants are responsible for production, and Jingxi is responsible for the operation, logistics, after-sales, etc. of merchants, and Jingxi earns the price difference of goods.

Fortune magazine released the latest Fortune Global 500 list on August 5. The list shows that JD.com, which has retained its top position among domestic Internet companies, will have revenue of approximately $153.2174 billion and profit of $3.4138 billion in 2023. JD.com ranks 52nd in the 2023 Fortune Global 500 list.

On May 16, JD.com delivered its first-quarter financial report that exceeded market expectations. Data showed that JD.com's revenue in the first quarter of 2024 reached 260 billion yuan, a year-on-year increase of 7%; under non-U.S. generally accepted accounting principles, the net profit attributable to ordinary shareholders of the listed company was 8.9 billion yuan, a year-on-year increase of 17.2%.

Xu Ran, CEO of JD Group, said: "Over the past year or so, we have made a series of proactive adjustments, optimizations and improvements to further enhance user experience, 'low price mentality' and platform ecology to improve the health of JD's business, including improving price competitiveness, reducing procurement costs, lowering the threshold for free shipping, and upgrading user experience and services such as 'one-click price guarantee', 'free door-to-door return' and 'refund only'."

According to the first quarter financial report, low prices and live streaming will continue to run through JD.com throughout 2024. Not long ago, JD.com Group announced 1 billion yuan in cash and 1 billion traffic to support content consumption scenarios. At the same time, it will also cultivate top talents. To a certain extent, this is based on the needs of competition in the current e-commerce market, but more importantly, it is also necessary to do a good job in content ecology and increase the attention of the platform, which is also the need to continuously balance JD.com's self-operated and third-party ecology.

On May 22, 2024, JD.com celebrated its 10th anniversary of listing on the Nasdaq. Looking back over the past decade, JD.com's revenue has grown 16 times from RMB 69.3 billion in 2013 before its listing to RMB 1.1 trillion in 2023, and its net profit attributable to ordinary shareholders under non-GAAP standards has grown 157 times from RMB 224 million to RMB 35.2 billion. The total amount of returns to shareholders through dividends and share repurchases has exceeded the total capital raised in the past decade.

Xu Ran also pointed out that 2024 is a year of execution, and we can see that various businesses have achieved tangible results. In particular, JD.com's emphasis on user experience has brought strong growth in the number of active users and user engagement in the first quarter. It is believed that JD.com's commitment to the "more, faster, better and cheaper" user experience will continue to be recognized by consumers across China, and will further enhance JD.com's development momentum in the future.

Editor: Ye Shuyun

Proofreading: Zhu Tianting

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