The credit cooperation between 1688 and Sesame Enterprise has achieved initial results. Merchants are actively displaying their “strength marks” and credit certification has become a trend.
2024-08-13
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On August 12, at the "1688 Efficiency Improvement and Revenue Increase Plan and AI Business Assistant" press conference, the 1688 platform stated that it will continue to cooperate deeply with Sesame Enterprise Credit, and through the innovative credit tool "Enterprise Sesame Strength Label", make the business between platform merchants and buyers simpler and more efficient. It is reported that more than 800,000 merchants on the 1688 platform have displayed their strength labels in their stores.
The credit system has always been a major differentiated advantage of the Alibaba platform in terms of merchant services. In March 2002, the launch of Alibaba TrustPass opened up a precedent for the construction of a trust system for Chinese e-commerce platforms. Since then, 1688, which was born out of Alibaba's B2B platform, has never stopped exploring and building a merchant trust system. In 2015 and 2020, 1688 successively launched merchant membership services such as "Strong Merchants" and "Super Factories" to help more merchants demonstrate their advantages in production scale, technical strength, and service capabilities.
In May 2023, the 1688 platform officially connected to Sesame Enterprise Credit and the "Enterprise Sesame Strength Label" service. "Enterprise Sesame Strength Label" is an innovative enterprise credit service. Sesame Enterprise Credit uses its AI technology, massive data mining and privacy computing to turn the business strength of enterprises into concise, easy-to-read and shareable labels. More than 1,000 types of strength labels can provide merchants with proof of strength in many aspects such as credit level, corporate qualifications, honorary titles, and business performance. For merchants on the 1688 platform, the dimensions of demonstrating their own strength have become more diverse.
Wenzhou Huichuan Technology Co., Ltd. is a packaging material company that mainly deals in non-woven fabrics and shopping bags. It has displayed as many as 15 strength labels on 1688, including "technological small and medium-sized enterprises", "the top 5% of patent authorizations in the same field", and "possessing process innovation capabilities". The person in charge of the company said, "The 'strength labels' launched on the 1688 platform are like an authoritative letter of recommendation, which clearly and intuitively demonstrates our professional qualifications and production strength in the field of packaging materials. Many potential customers see these labels, develop basic trust, and choose to contact us. These differentiated corporate credit services make business and trust simple."
Merchants show strength
The relevant person in charge of Sesame Enterprise Credit said that the introduction of strong targets is particularly beneficial for those merchants who are already quite strong in the industry but are still "newcomers" to the 1688 platform. Merchants can rely on their own comprehensive strength to win the trust of platform buyers more quickly and gain an advantage for their continued development on the 1688 platform.
In addition, it is reported that the three certification labels of 1688, "Integrity Pass", "Strong Merchant" and "Super Factory", have been included in the enterprise Sesame Strength Label pool due to their authority and wide recognition among merchants, and can be displayed and used in major e-commerce platforms, recruitment platforms, bidding platforms and other scenarios that Strength Label cooperates with. This means that if merchants do well on 1688, they will have the opportunity to be "looked at" in more scenarios such as recruitment and bidding, thereby gaining an advantage in the competition.
Take the Wanlihui App, which is about to be connected to Sesame Enterprise Credit, as an example. As a platform to help small and medium-sized enterprises go overseas, Wanlihui's merchants have a high degree of overlap with 1688 merchants. After the introduction of these three labels, merchants can also efficiently demonstrate their strength on the domestic domestic trade platform in the Wanlihui App.
As of the end of July this year, more than 14 million enterprises across the country have opened credit management accounts through Zhima Enterprise Credit, and have viewed and used the Shilibiao service. More than 7 million enterprises and individual businesses have been identified with more than 10 Shilibiao. Through in-depth cooperation with 1688 and major bidding, procurement, corporate services, recruitment, e-commerce and other platforms, "Shilibiao" is becoming a strength pass for the full chain of small and medium-sized enterprises in the digital era.
At this press conference, 1688 also launched an "efficiency improvement and revenue increase" plan for source manufacturers in the industrial belt and released a free "AI business assistant" to allow merchants to achieve greater business certainty and simpler operations.
This free AI business assistant is equivalent to equipping merchants with a digital employee team. Through 1688's AI technology, it can better and faster understand buyers' needs and find more effective business opportunities. In addition, similar merchant AI products on the market are basically charged, with an annual fee of more than 10,000 yuan.
At the same time, 1688 also launched the "merchant supply model" which is equivalent to the trusteeship model for the first time in addition to the merchant's independent operation model. The platform invites merchants to bid, and merchants give the supply price of the goods through the hot bidding method. The platform is responsible for pricing, sales, and fulfillment, and finally settles the payment with the merchants, thereby bringing payment income to the merchants. (Picture authorized by 1688)
Source: China Daily
