HANGZHOU, China, Feb. 25, 2021 (GLOBE NEWSWIRE) — Yunji Inc. (“Yunji” or the “Firm”) (NASDAQ: YJ), a number one membership-based social e-commerce platform, in the present day reported the outcomes of its vacation celebration purchasing campaigns and steady e-commerce service for platform members in the course of the China Ministry of Commerce’s 2021 On-line Lunar New 12 months Buying Competition occasion.
In keeping with cultural practices and traditions in China, most companies and retailers stay closed all through the Lunar New 12 months interval as many retailers and shoppers journey to go to household and associates. Throughout this 12 months’s vacation interval in China, many shoppers selected to buy New 12 months groceries and items on-line because of ongoing journey restrictions and security considerations associated to the pandemic, which instantly led to elevated quantity and better product supply demand for e-commerce platforms. Because of its established e-commerce presence, Yunji was a go-to vacation spot for a lot of of its members, who utilized its purchasing app and WeChat mini-program to not solely buy family items for their very own households, but in addition to ship vacation items to these associates and households that they have been unable to bodily go to in the course of the 2021 Lunar New 12 months.
Yunji held quite a few themed campaigns in the course of the 2021 Lunar New 12 months interval, such because the “New Search for Each Dwelling” family home equipment marketing campaign and the “New 12 months’s Eve Household Dinner” meals marketing campaign. Yunji additionally held the “Restricted New 12 months Choices in Ultimate 48 Hours” marketing campaign on its platform and particular flash gross sales to reinforce the gross sales of such merchandise as meals, contemporary produce, drinks, alcohol, and coronavirus containment supplies. Yunji’s members have been fairly receptive to those customized vacation campaigns. For instance, Yunji bought out of the primary batch of its personal label meals model Li Ba Tian. In the meantime, some merchandise achieved report gross sales on Yunji’s platform, gathering greater than RMB10 million in gross sales in simply in the future.
The Firm leveraged its robust logistics accomplice community to make sure that its members may obtain their merchandise with out interruption in the course of the Lunar New 12 months interval and all through the associated vacation purchasing campaigns. As an example, by working intently with China Publish, Yunji was in a position to make sure profitable product deliveries no matter location in China. Furthermore, relying on the supply capability of Yunji’s logistics accomplice in several areas, members have been additionally provided with extra supply choices for bought merchandise based mostly on their supply choice.
Yunji was additionally invited by Division of Commerce of Zhejiang Province to take part in its native on-line Lunar New 12 months purchasing competition for regional merchandise with Zhejiang traits, alongside different respected e-commerce business members within the area, comparable to Alibaba Group.
Mr. Shanglue Xiao, Chairman and Chief Govt Officer of Yunji, commented, “We’re happy that we efficiently delivered a high quality e-commerce purchasing expertise to our members with out interruption in the course of the 2021 Lunar New 12 months. We additionally recorded excellent outcomes for merchandise sourced from our differentiated provide chain. Such success continues to showcase the aptitude of our established logistics community and rising reliance of our members on our platform for every day family merchandise.”
Secure Harbor Statements
This announcement incorporates forward-looking statements. These statements are made beneath the “secure harbor” provisions of the U.S. Non-public Securities Litigation Reform Act of 1995. These forward-looking statements might be recognized by terminology comparable to “will,” “expects,” “anticipates,” “goals,” “future,” “intends,” “plans,” “believes,” “estimates,” “assured,” “potential,” “proceed” or different related expressions. Amongst different issues, the quotations from administration on this announcement, in addition to Yunji’s strategic and operational plans, comprise forward-looking statements. Yunji might also make written or oral forward-looking statements in its periodic stories to the U.S. Securities and Alternate Fee (the “SEC”), in its annual report back to shareholders, in press releases and different written supplies and in oral statements made by its officers, administrators or staff to 3rd events. Statements that aren’t historic info, together with however not restricted to statements about Yunji’s beliefs and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties. A variety of components may trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: Yunji’s development methods; its future enterprise growth, outcomes of operations and monetary situation; its skill to grasp purchaser wants and supply services and products to draw and retain patrons; its skill to keep up and improve the popularity and status of its model; its skill to depend on retailers and third-party logistics service suppliers to offer supply providers to patrons; its skill to keep up and enhance high quality management insurance policies and measures; its skill to determine and preserve relationships with retailers; traits and competitors in China’s e-commerce market; modifications in its revenues and sure value or expense gadgets; the anticipated development of China’s e-commerce market; PRC governmental insurance policies and laws referring to Yunji’s business, and normal financial and enterprise circumstances globally and in China and assumptions underlying or associated to any of the foregoing. Additional info relating to these and different dangers is included in Yunji’s filings with the SEC. All info supplied on this press launch and within the attachments is as of the date of this press launch, and Yunji undertakes no obligation to replace any forward-looking assertion, besides as required beneath relevant regulation.
About Yunji Inc.
Yunji Inc. is a number one social e-commerce platform in China that has pioneered a novel, membership-based mannequin to leverage the ability of social interactions. The Firm’s e-commerce platform presents high-quality merchandise at engaging costs throughout all kinds of classes catering to the day-to-day wants of Chinese language shoppers. As well as, the Firm makes use of superior applied sciences together with large information and synthetic intelligence to optimize consumer expertise and incentivize members to advertise the platform in addition to share merchandise with their social contacts. By deliberate product curation, centralized merchandise sourcing, and environment friendly provide chain administration, Yunji has established itself as a reliable e-commerce platform with high-quality merchandise and unique membership advantages, together with discounted costs.
For extra info, please go to https://investor.yunjiglobal.com/
Investor Relations Contact
Electronic mail: Yunji.IR@icrinc.com
Cellphone: +1 (646) 224-6957
Electronic mail: Yunji.IR@icrinc.com
Cellphone: +1 (646) 224-6957
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