E-Commerce Platform: 1688 Store Buyer Return Rate Adjustment Announcement

The 1688 rule platform released the latest 1688 store buyer turnaround rate adjustment announcement. According to the announcement, the return rate of the new version focuses on the purchase frequency and transaction volume of buyers in the past 30 days. Both the quantity and quality of buyers are considered. The higher the return rate, the better the product quality, service and reputation are. High return rate can strengthen the factors of search display. The adjustment was announced on July 19, 2024 and will take effect on July 27, 2024. The specific changes are as follows:

1、 New and old changes in store turnover

　　 Original: [Store Turnback Rate] focuses on the number of times customers buy again in the past 90 days;

(Based on the number of customers, calculate whether the customer has bought again, pay attention to whether the customer buys again, and pay attention to the number of repeat customers)

　　 New: [Store Turnback Rate] focuses on the re purchase times and transaction amount of customers in the past 90 days.

(The quantity and quality are parallel. The number of buyers and transaction amount purchased last month, and the number of buyers and transaction amount purchased again this month)

[Note]:

Total number of buyers in the last 90 days: the number of buyers who purchase one or more times a day in the last 90 days;

Number of re purchasers in the last 90 days: number of buyers who have purchased twice or more in the last 90 days;

Total GMV in the last 90 days: total transaction amount in the last 90 days

Re purchase GMV in the last 90 days: the transaction amount generated by the second or more purchases of the re purchase buyer in the last 90 days

The number of buyers and gmv do not include the number of buyers and GMV corresponding to false transactions and refunded orders.

10. Y varies according to the main categories of merchants

[Example]: 1000 buyers have generated a total GMV of 10 million in the last 90 days' transactions of merchant A; Among them, 600 buyers have re purchased within 90 days and the transaction amount of re purchase is 6 million yuan. Assuming X=0.25, Y=0.75, the return rate of the store is calculated as follows:

2、 Upgrade scope:

1. The platform will update the index caliber related to the return rate of stores, and the specific sections include but are not limited to: search, shopping malls, product details page, etc. (the details are subject to the page display). The above sections are not completely listed. If it is found that other sections involve store return rate, 1688 platform will adjust accordingly.

2.1688 The platform will synchronously adjust the store return rate assessment of store level L from the effective date of the rules, and give the merchants a 30 day L level assurance period (from the date of store return rate upgrade). During the assurance period, the stores that should be downgraded according to the store level assessment rules will not be downgraded, and the stores that should be upgraded according to the L level assessment rules will be upgraded normally, The 1688 platform will resume normal assessment after the end of the classification guarantee period.

3、 Upgrade rhythm:

From July 27, 2024, * * * will be upgraded to the primary category of businesses that run * * * education, fresh food and beverage, daily cooking utensils, food and beverage, and cleaning appliances, and businesses in other categories will be upgraded gradually.