Joybuy, a cross-border shopping platform owned by Chinese e-commerce giant JD.com, announced on November 4 that it will undergo a series of “business upgrades,” while trading on the site has now ceased.
In a website maintenance notice, Joybuy said it aims to provide a better and more comprehensive shopping experience for customers. In order for orders to be delivered, it will urge suppliers to dispatch goods within three days. As for the status of other orders, including returns and refunds, customers can contact the firm within the next 30 days.
According to Egain News, the announcement of “upgrades” is essentially a euphemism that probably indicates that Joybuy’s future prospects are not promising. It likely means that the attempt to transition from a B2C platform last year into a B2B platform has basically failed.
Joybuy’s predecessor was a B2C platform aimed at individual consumers. On December 9, 2021, JD.com announced that the business of joybuy.com (English) and joybuy.ru (Russian) would stop operating, and that cooperation with contracted merchants would be terminated. After B2C business stopped operating, joybuy.com was upgraded to a B2B platform connecting “Chinese factory goods” and “overseas small and medium-sized merchants.”
It was previously reported that JD.com would make major adjustments to its overseas business, including layoffs, shrinking performance expectations, and a possible withdrawal or closing of its e-commerce businesses in Indonesia and Thailand. In addition, VP of JD Group Macro Mao has reportedly left the company, while several middle-level managers under him have quit.
However, JD.com‘s exploration of the European market has not stopped. In January this year, Ochama, a retailer owned by JD Worldwide, officially opened in the Netherlands. It adopts a fully automated stocking warehouse and customers can choose to pick up the goods or enjoy delivery service.
Ochama’s products cover fresh food, household appliances, makeup, fashion, and more. Since August, it has opened nearly 100 pickup sites in Rotterdam, Amsterdam, The Hague, Paris and other cities. Overseas warehouses are located in the UK, Germany, the United States, Australia, Poland, the Netherlands, and more.