Online JIF Drew to a Successful Close, Marking a New Stage of the Implementation of 1688’s New Wholesaling Scheme
May 07 2020 - 5:15AM
Business Wire
On April 22nd, the 22nd Jinjiang Footwear & The 5th Sports
Industry International Exposition, China (JIF) drew to a successful
close. The JIF, which took an online format for the first time,
with 1688.com, an e-commerce platform under Alibaba(NYSE:BABA), as
the main venue, attracted about 3,000 enterprises from countries
along the Belt and Road including Russia and Singapore. During the
JIF, the volume of online sales reached as high as 1 billion RMB,
and the number of online brand impressions exceeded 400 million. On
the first day alone, more than 40,000 people watched the online
opening ceremony.
At the JIF, 1688.com, the wholesale commercial platform that
hosts the largest number of China’s medium-sized and small
enterprises, fully illustrated the meaning of “new wholesaling”.
Benefiting from its experience and market insights gained as a
long-term leader in the online wholesales market, 1688.com has
devised a series of digital transformative strategies and long-term
improvements that are targeted at each link of wholesaling,
including five major elements: Original Manufacturer, Distributing
Tools, Financial Services, e-commerce livestreaming, and Post-sale
Promises.
Benefiting from 1688’s experience with digitalization gained
from its long-term collaboration with major manufacturers and
industries, the digitalized Super Origins working with 1688 all
play crucial roles in the supply chains across the world. As a
consequence, they pledge to have a steady supply of products of the
finest quality from original manufacturers for online “new
wholesaling”. 1688 also utilizes diversified distributing tools to
accelerate online transactions and to increase the turnover rate of
inventory for its users. In addition, 1688 provides for enterprises
services such as credit guarantees, quick payment, and
interest-free loans, in order to alleviate financial pressure on
enterprises and accelerate the turnover rate of capital. Besides,
1688 has also created a digitalized purchase experience center that
is tailored to the needs of online wholesaling, enabling buyers to
communicate with sellers face-to-face and make choices leisurely on
live-streaming channels and thus offering authentic and immersive
experiences. Last but not least, the post-sale promises by 1688
include quality guarantee, guaranteed shipment time, guarantee of
refund/replacement within the time limit, etc., so as to give
buyers risk-free experiences.
The successful hosting of the first online JIF is a remarkable
case of how the “new wholesaling” scheme of 1688.com helps
traditional industries to achieve digital transformations. In this
special period when there are increasing uncertainties in the
future prospects of the global economy, it is also a piece of
collective memory that observes, participates in, and even changes
the industrial outlook in the post-pandemic era.
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version on businesswire.com: https://www.businesswire.com/news/home/20200507005422/en/
1688.com LIU SHUANG wb-ls309045@alibaba-inc.com
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