Baozun Sets New Total Order Value Record of RMB10.06 Billion on Singles Day 2019
SHANGHAI, China, Nov. 11, 2019 (GLOBE NEWSWIRE) -- Baozun Inc. (Nasdaq: BZUN) ("Baozun" or the "Company"), the leading brand e-commerce service partner that helps brands execute their e-commerce strategies in China, today announced that the total order value settled through payment gateways on all of the Company’s e-commerce channels reached a record RMB10.06 billion on Singles Day 2019, an increase of 53.6% from last year’s previous high of RMB6.55 billion.
The record Singles Day total order value does not include the contribution from one electronics brand that Baozun stopped servicing during the third quarter of 2019 as part of its strategy to optimize its brand portfolio towards higher-quality growth. To provide a more accurate comparison, if the contribution from the electronics brand was excluded from 2018, the total order value for Singles Day 2019 would have increased by approximately 76% year-over-year.
With Alibaba’s “Tmall Flagship Store 2.0” now deployed, Baozun bolstered its first mover advantage and rapidly upgraded nearly 100 of its brand partners’ flagship stores across a variety of categories, including apparel, electronics, cosmetics, mom & baby and FMCG prior to Singles Day. Tmall Flagship Store 2.0 is constantly evolving and allows Baozun to create highly customized upgrades for brand partners which were integral in helping them actively engage with customers, personalize content, and manage their creative marketing strategies in order to drive sales during the shopping festival.
“I am pleased to see that our focused strategy and execution in preparing for the massive surge in orders generated new corporate records, with total order value increasing 53.6% to RMB10.06 billion and number of orders surging 61% to 29 million orders,” commented Mr. Vincent Qiu, Chief Executive Officer of Baozun. “Breaking through the RMB10 billion mark in order value this year reflects the enormous future growth potential our core business continues to generate. We are excited to see that many leading brands within our portfolio ranked first in terms of total order value within their respective verticals. The combination of our cutting-edge IT infrastructure, integrated marketing capabilities, extensive analysis of big data, sophisticated warehousing and logistics networks, and deep insight into consumers helped brands engage with consumers more effectively and are all essential elements powering our success. As we continue to drive innovation to support future growth, I am confident that our investments in technology will help us solidify our position as the market leading e-commerce service provider.”
About Baozun Inc.
Baozun is the leading brand e-commerce service partner that helps brands execute their e-commerce strategies in China by selling their goods directly to customers online or by providing services to assist with their e-commerce operations. The Company's integrated end-to-end brand e-commerce capabilities encompass all aspects of the e-commerce value chain, covering IT solutions, store operations, digital marketing, customer services, warehousing and fulfillment.
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