JD.com-developed omnichannel agricultural wholesale platform sees transaction boom amid COVID-19
by Viviane Yang
China’s first agricultural omni-channel wholesale platform “Yinongpi (亿农批)”, jointly established by JD.com and Dili Group, one of China’s leading agricultural wholesale market operators, reported nearly 200 million yuan in trading volume in the past nine months since its launch in September 2021, according to JD.com.
The platform supports remote and on-site transactions for agricultural products, a set of digitized functions such as sales and inventory management, price index monitoring, food safety traceability system and other tools, as well as logistics, insurance and financial services, which have been much needed in recent months to ensure timely supply of fresh produce as several regions in China face COVID-19-related disruptions .
Yinongpi, JD’s Agricultural Products Omnichannel Wholesale Platform
“Due to the epidemic, we have less offline customers this year, but through Yinongpi, many customers have contacted us online,” said Jinyu Li of vegetable wholesale company Jinyuxiangyun, who was an early user of Yinongpi. “With the help of the platform, our product sales in the first quarter saw 30% year-over-year growth, including beans, cabbage, potatoes, onions and other vegetables.
The first project based on the Yinongpi platform was launched in Shouguang, Shangdong Province, China’s largest vegetable production base, in collaboration with Dili Group since last September. Thanks to the transparency that the platform offers in the whole trading process, the operational efficiency of traders has been significantly improved, transaction costs have been reduced and market regulators are able to carry out supervisory work. faster to further protect the overall transaction process. The average daily trading volume in Shouguang has exceeded 3 million RMB yuan on the platform over the past nine months.
Yi Zhao, head of the omnichannel ecosystem development department under JD Super, said JD will continue to deepen cooperation with Shouguang Agricultural Commodity Logistics Park and move all park transactions to Yinongpi. At the same time, the platform will expand its services in food origin tracing, big data analysis, fleet management, financial and logistics support.
Meanwhile, Tengzhou, another county in Shangdong Province famous for its potato production with more than 2 million tons of annual output, relies on Yinongpi to improve its supply chain and expand sales channels. selling not only in major Chinese cities but also in overseas markets such as Malaysia, Australia and other countries. This project between Tengzhou and JD.com, officially launched in May this year, is expected to reach an annual output value of more than 5 billion RMB yuan in the near future.
production base in Tengzhu, Shandong province
“Yinongpi is a significant attempt to transform the agricultural wholesale industry and will play an active role in exploring new potentials for agricultural development,” Zhao added. “Driven by China’s rural revitalization and digital economy, we expect the platform’s growth to create both industrial and social value.”