BABA(US:BABA) Zheng Quan Shi Bao Wang·2025-05-15 03:08Group 1 - Taobao has launched a "high refund rate crowd blocking" feature for apparel merchants, allowing them to customize their promotional pages to block high refund and abnormal refund groups, which is currently only available for Tmall and Taobao apparel merchants [1] - This initiative is seen as an important attempt by Taobao to optimize the business environment and combat "involution" in the e-commerce sector, as the "only refund" policy has increased operational pressure on merchants [1][2] - The apparel industry has been particularly affected by high return rates, with women's clothing return rates typically between 50% to 60%, and some merchants experiencing return rates as high as 90% in live-streaming sales [1][2] Group 2 - The high return rates not only increase operational costs for merchants but also severely impact their profit margins and business motivation, making the new feature a significant benefit for merchants by potentially lowering after-sales costs and improving operational efficiency [2] - The launch of this feature reflects a broader trend in the e-commerce industry towards service and quality competition, as platforms seek to enhance the business environment and improve profitability for merchants [2][3] - Since early 2024, e-commerce platforms have been implementing various merchant support policies and measures to optimize the business environment, aiming to balance the interests of merchants and consumers while promoting healthy industry development [3]