JD launches support initiatives to merchants for Singles Day promo
It will issue virtual advertising coupons worth over $150,000 to small businesses.
JD has introduced measures on marketing, training, loans and more, in supporting its merchants for the upcoming Singles Day Grand Promotion on November 11, the company announced in a press release.
JD will work jointly with small and medium enterprises (SMEs) to facilitate their branding by issuing virtual advertising coupons worth up to $155,180 (RMB1m). This aims to alleviate the cost of advertising.
Additionally, over 1 million independent software vendor coupons will be provided to SMEs. Those whose products are to be stored at JD’s warehouse will be granted advertising subsidies worth more than $1.55m (RMB10m).
On the marketing side, JD is looking to help merchants boost traffic by diversifying inflows through SMEs-focused livestreaming channels, short videos, and different incentives.
In order to reduce the burden and lower costs for SMEs, insurance premiums for return shipping fees will also be significantly reduced. The minimum premium for a single order can be reduced from $0.016 (RMB0.1) to $0.0016 (RMB0.01).
For loan-related financial products, JD will provide a large number of fee reductions and interest rate discounts to help SMEs solve the problem of capital turnover. Based on merchants’ requests, they can also apply for loans from JD for up to $15.52m (RMB100m).
“The goal is to simplify rules, lower entry threshold, and maximize exposure for SMEs,” the company said.