Sou Hu Cai Jing·2025-04-22 13:41Core Viewpoint - Major e-commerce platforms in China, including Pinduoduo, Taobao, Douyin, Kuaishou, and JD, will completely abolish the "refund only" policy, marking its end in the industry [1][2]. Group 1: Background and Implementation - The "refund only" policy was first introduced by Pinduoduo in 2021, allowing consumers to receive refunds without returning products under certain conditions [1]. - Following Pinduoduo, other major platforms like JD, Taobao, Douyin, and Kuaishou adopted the "refund only" service, making it a standard practice across the industry [1]. Group 2: Issues with the "Refund Only" Policy - The widespread use of the "refund only" policy led to several issues, including platforms issuing refund notifications without understanding the specific disputes, resulting in financial losses for merchants [2]. - Merchants reported difficulties in claiming compensation from manufacturers for defective products due to the complications introduced by the "refund only" policy [2]. - Some individuals exploited the "refund only" policy for profit, causing significant losses for merchants [2]. Group 3: Regulatory Changes and Future Outlook - The cancellation of the "refund only" policy has been anticipated, as the State Administration for Market Regulation is pushing for improvements in the competitive environment of the platform economy [2]. - During the 2023 Two Sessions, government authorities indicated that they would address the misuse of the "refund only" policy that left merchants without compensation [2]. - Taobao Tmall began relaxing the "refund only" rules in July 2022, and Alibaba's 1688 platform fully abolished the policy in March 2023, with other platforms like JD and Kuaishou also making adjustments [2].