3 6 Ke·2025-10-30 02:01Core Insights - JD's Jingxi business has adopted a new self-operated model targeting the source factories and white-label merchants, achieving low prices through direct procurement and cost optimization [1] - Jingxi's mission to capture the "lower-tier market" is confirmed, with a significant user base growth contributing to JD's overall user increase [2][3] - Jingxi aims to balance low prices with quality assurance, addressing challenges such as avoiding internal competition and enhancing user trust in product quality [2][4] User Growth and Market Strategy - Jingxi has achieved a tenfold increase in transaction volume by 2025, with 370 million users contributing 150 million new users to JD [2][3] - The user demographic is primarily from lower-tier markets, with a higher proportion of female users, indicating a strategic focus on cost-sensitive consumers [2][8] - The introduction of "Jingxi Selection" aims to cater to the growing demand for higher-quality products among existing users [2][8] Operational Efficiency and Cost Management - Jingxi's operational model emphasizes cost reduction through direct engagement with factories, optimizing production and logistics to lower costs by at least 10% [4][12] - The platform's marketing strategy is data-driven, allowing for predictive inventory management and efficient production scheduling [9][10] - Jingxi currently operates at a loss due to initial investments in user acquisition and logistics, but profitability is anticipated with improved efficiency and increased average order value [3][12] Competitive Positioning - Jingxi's core competitive advantage lies in its ability to provide superior cost, efficiency, and user experience compared to competitors [13] - The platform's focus on low prices is designed to meet the needs of price-sensitive consumers, even if it results in a perceived quality gap compared to JD's main offerings [5][12] - Jingxi's collaboration with factories is structured to ensure mutual profitability, with positive feedback from partners indicating steady growth in their business [11][12]