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No one expected that a seemingly ordinary Pinduoduo could emerge in a short period of time and become the existence of surpassing Ali and JD.com's market value. JD.com, the former second largest e-commerce giant, has also become the bottom of the list, and even JD.com's internal operations staff can't stand it, pointing out various problems and pain points in JD.com.
And this aroused Liu Qiangdong's attention, and he personally responded to make changes, and it didn't take long for Jingdong to have a big move, among which the annual salary of front-line procurement and sales employees rose by 100%! Jingdong officially announced that Liu Qiangdong really had courage.
JD.com's pain points
China's e-commerce market is dominated by several large platforms, such as Alibaba Group's Taobao, as well as JD.com, Pinduoduo, etc. These platforms attract a large number of consumers and merchants by establishing a strong supply chain network, providing a convenient shopping experience, and a rich selection of goods.
In terms of word of mouth, service quality and merchant quality, JD.com stands out with its self-operated model. It is difficult to find a fake on the Jingdong platform, and after the user places an order, it will also let the self-operated Jingdong Logistics be delivered quickly, which is recognized by the majority of consumers.
But on the other side that ordinary people can't see, as of December 27, JD.com's market value is only $43.6 billion. In comparison, Pinduoduo and Alibaba have market capitalizations of $191.9 billion and $193.8 billion, respectively.
In early December, a JD.com operator pointed out on the intranet that JD.com's promotion mechanism was complex, and the platform's big promotion needed to plan the rhythm and intensity in advance.
Liu Qiangdong was deeply touched and responded, saying: "These are all real problems, and they must be changed, otherwise there is no way out" "No matter what, I will not lie flat" "Jingdong's foundation is still there, I believe we will definitely get out of the valley".
In Liu Qiangdong's response, everything points to one point, that is, changes must be made. Approaching 2024, JD.com's changes are coming, and two major actions will be launched.
JD.com has raised salaries sharply
According to the rules announced by JD.com, the implementation standard for non-returnable user refunds has been added, which will officially take effect on December 29. The standard mentions that the goods delivered by the merchant to the consumer have problems such as inconsistent descriptions and a large number of inferior quality, and JD.com will only refund the operation based on the feedback of the consumer and the transaction behavior of the merchant.
JD.com is going to see Pinduoduo on par and will pay more attention to the consumer experience. In addition to this, JD.com has another action that stands out.
On December 27, JD.com officially announced that starting from January 1, 2024, the annual fixed salary of front-line business personnel such as procurement and sales will increase by 100%, and the average salary increase of all JD retail employees will not be less than 20%.
Under the haze of layoffs in major industries, JD.com announced a significant salary increase, and a rise is a doubling, I am afraid it is inseparable from Liu Qiangdong's overall guidance behind the scenes. We all know that Liu Qiangdong cares very much about the welfare of grassroots employees, even if it is an ordinary cleaning aunt, she has to sign a labor contract and never outsource.
This is not the first time that Liu Qiangdong has improved the welfare of JD.com's grassroots employees, and in the case of the rise of Pinduoduo and the unresolved internal contradictions, Liu Qiangdong's changes started from the grassroots level. Because only when the front-line business personnel do things well, the upper-level applications can be more consolidated. Not every entrepreneur has such courage.
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