According to internal media reports, Taobao's new service "Returns Treasure" for return and exchange scenarios has once again seen systematic price reductions. This round of price reductions will continue from today (27th) until the end of the november 11 shopping festival, with some merchants offering discounts of up to 58%.

"Returns Treasure" is a service launched by Taobao in early September for all Taobao Tmall merchants. After merchants join, as long as consumers place orders to purchase goods with the "Returns Treasure" service label, and apply for returns/exchanges when the order is shipped by the merchant and the returns/exchanges are successfully completed, consumers will receive guaranteed free shipping for the first weight of the return/exchange.

Taobao estimates that after the launch of "Returns Treasure", it is expected to reduce the cost for merchants by at least 2 billion yuan annually, and the comprehensive average reduction for merchants will reach 20%. Prior to november 11, in order to alleviate the pressure on merchants for returns and exchanges during the peak promotion period, Taobao further reduced the Returns Treasure service fee on the basis of previous reductions, with reductions concentrated at over 40%.

In addition, this year Tmall's november 11 festival no longer requires Taobao merchants to purchase freight insurance. After unbinding freight insurance, Taobao merchants can choose the best after-sales protection method based on actual operation conditions.