Chapter 327: Presale Breaks 2 Billion, Three Kingdoms Kill Returns! Cheng Wei: Why Won

On October 15, the second day of JD’s presale event, three new coupon entry points appeared on the main page: “2000-300,” “5000-800,” and “10000-1200” digital appliance discount vouchers.

At the coupon center, 10,000 20-yuan JD vouchers with no minimum spend were released every hour, from 8 a.m. to midnight, locking users in for sixteen hours.

The head of JD’s event planning team had a simple idea: whether they bought anything or not, users had to open JD’s website or app at the exact time.

In one day, various promotional subsidies totaled 20 million Huayuan, with results naturally extremely significant.

On October 14, JD’s presale transaction volume was 810 million Huayuan.

On October 15, JD’s presale transaction volume reached 1.07 billion Huayuan.

Easily crossed the billion-yuan threshold!

“Fakes!” Zhang Jindong burst into curses upon hearing the news.

JD and Suning’s products and users had considerable overlap, and digital appliance purchases had low repurchase rates—once users ordered from JD, they wouldn’t return to Suning.

“Bring forward the ‘Zero-Yuan Purchase’ campaign.”

With a grim face, Zhang Jindong summoned Suning’s e-commerce head and ordered him to act—he couldn’t stand Liu Qiangdong’s arrogance.

According to the original plan, this campaign was scheduled to launch on October 18 for preheating and go live on October 25.

The rules were blunt: for every 1,000 yuan spent, users received a 120-yuan voucher, with vouchers stackable without upper limit.

Focused on mobile phones, digital devices, computers, and home appliances, covering brands like Haier, Hisense, Samsung, Lenovo, and Apple.

In other words, purchasing Surface tablets, iPhone 4S, iPhone 5, Orange C3, Haier refrigerators, or Lenovo laptops all qualified for an 88% discount.

In reality, Suning’s vouchers, though advertised as no-minimum-spend, were restricted to small appliances and high-margin products like snacks, alcohol, and cosmetics.

In short, there was a trick involved.

But Suning was also launching for the first time a promotion with identical online and offline pricing across all categories—while cunning, it carried genuine intent.

Small appliances included rice cookers, microwave ovens, electric fans, and air fryers—hard currency items, though inventory was limited.

Users who hesitated ended up buying overpriced snacks and alcohol.

Buyers in 2012 had no idea how ruthless people could be; seeing 88% discounts on Apple and Orange phones, they immediately placed orders.

The first batch of users all got the small appliances they wanted and posted guides on Weibo, BBS, Campus Network, and Tieba.

Partly to show off, partly because Suning had launched Suning Pushers on October 9—a CPS advertising alliance similar to Ali Mama and Pinbei—users could share referral links on social platforms; when others clicked and ordered, the sharer earned commission.

How many good people are there in this world?

Either they want your money, or they want you to make money for them!

Zhang Jindong’s “Zero-Yuan Purchase” campaign caught Liu Qiangdong off guard, severely impacting JD’s performance in major appliances and digital goods.

Facing his old rival’s offensive, Liu Qiangdong immediately counterattacked with the “Desert Storm” campaign, offering small appliances at 50% off, 100-yuan deductions for every 200 spent, and a bundle of 1,010-yuan vouchers for purchases over 99 yuan, triggering users’ demand for small appliances first.

After all, the most valuable items in Suning’s voucher pool were small appliances—if users’ needs were satisfied, who would buy big-ticket electronics or digital goods from Suning just for snacks and alcohol?

To be fair, Liu Qiangdong was indeed a battle-hardened veteran—he immediately copied Zhang Jindong’s backend.

The day after JD’s “Desert Storm” launched, Suning’s “Zero-Yuan Purchase” sales plummeted, dropping 53.7% compared to the previous day, its effectiveness slashed nearly in half.

Before Zhang Jindong could react, Liu Qiangdong rolled out free appliance cleaning services and female delivery personnel—easy to understand the former, the latter involved JD selecting a group of attractive, well-built couriers to deliver packages in Smart cars.

Though vulgar, users in 2012 loved it, especially since JD’s user base was predominantly male.

Before Double Eleven even officially began, Suning and JD were already at war—outsiders might think they were the main protagonists.

Zhang Yong, however, remained patient, waiting until October 18 to launch the “Wealth Treasure Recharge Bonus” campaign.

Each successful recharge of 300 yuan gave a chance to grab a 150-yuan bonus; each 150-yuan recharge gave a chance to grab a 50-yuan bonus—each tier limited to one participation, with a maximum of 200 yuan in no-minimum-spend bonuses.

From 10 a.m. to 9 p.m., twelve fixed times daily, 200,000 bonuses were released in limited quantities, with a daily subsidy of 40 million Huayuan.

The campaign ran from October 18 to October 24, totaling seven days, with a total investment of 280 million Huayuan.

Though users had to wait and rush to grab them, one ID could register six Wealth Treasure accounts—equating to a 1,200-yuan direct discount, and the bonuses were no-minimum-spend and applicable to all categories.

In 2012, Alibaba’s investment in promotional events was far more extravagant than it would be over a decade later, with far fewer tricks.

Far more sincere than JD or Suning! Combined with “50% off everything,” 1-yuan flash sales, and half-price iPhones, it instantly drew all online attention to Tmall and Taobao.

JD’s daily sales, which had barely held at 1 billion for two days, immediately dropped back to 500–600 million.

Tmall’s daily active users surged, effortlessly capturing 70% of traffic.

Pinbei was also affected.

On the first day of presale, Pinbei’s total sales were 1.63 billion Huayuan;

On the second day, 1.27 billion Huayuan;

On the third day, 1.04 billion Huayuan;

On the fourth day, 980 million Huayuan;

On the fifth day, October 18, sales dropped to just 730 million Huayuan.

Remember, Pinbei’s daily sales before major promotions usually exceeded 800 million Huayuan.

After brief thought, Huang Zheng ordered his operations team to activate the promotional campaign plan.

First, users who ordered on Pinbei received Alipay Bonus interest coupons—for example, 8.8 off for 100 spent, 28.8 off for 1,000 spent, 88 off for 10,000 spent—seemingly weak, but Alipay’s mechanism required users to deposit 10,000 yuan into Yu’e Bao and withdraw it a month later to activate the 88-yuan bonus.

Directly targeting users’ wallets, locking funds in place—this money could only avoid breaking the bonus activation rule if spent on Pinbei.

Simultaneously, increased the bonus for Yu’e Bao experience funds—from 5,000 yuan per 99 yuan spent to 6,000 yuan, a 20% increase.

Then, on Pinbei’s Hundred-Billion Subsidy channel, from 10 a.m. to midnight, 10,000 50% discount vouchers were issued hourly, with a maximum deduction of 20 yuan.

Finally, launched a new channel: “Every Night at Eight, Dark Moon, High Wind,” featuring selected products priced at no less than 300 yuan, with an additional 20–30% discount on top of the Hundred-Billion Subsidy.

In a sense, the “Dark Moon, High Wind” channel was like the old Fox Taobao Flash Sales, driving prices to rock bottom.

5 kg of Shuobei rice, 9.9 yuan, free shipping!

12 kg of Libai laundry liquid, 26.9 yuan, free shipping!

Orange power bank, 89 yuan, free shipping!

Midea blender, 179 yuan, free shipping!

Aucxs 1.5-horsepower air conditioner, 1,399 yuan, free shipping!

With this combo of moves, Pinbei’s daily sales skyrocketed, instantly rebounding to 1.5 billion.

On October 20, Pinbei Alliance formed strategic partnerships with Mogujie, Meilishuo, and What’s Worth Buying, shifting platform traffic toward Pinbei.

No choice—Pinbei was giving too much!

Besides, Ma Liyun frequently mocked on Weibo that “guide e-commerce has no value, it’s pure robbery”—after acquiring Fox Taobao, he naturally poured all resources into his own child.

In Old Ma’s eyes, Mogujie, Meilishuo, and What’s Worth Buying were leeches sucking blood off Alibaba—he’d long wanted to kick them out.

But Alibaba was in a critical phase preparing for IPO, and third-party channel output remained indispensable.

Otherwise, if he issued a new rule—excluding guide site referral sales from search weight, Juhuasuan, and baseline promotion metrics—all guide e-commerce would die.

In Ma Liyun’s view, this commission should go to Fox Taobao!

What were Mogujie, Meilishuo, and What’s Worth Buying?

Trying to control Alibaba’s external traffic channels?

Pure fantasy!

At this moment, Ma Liyun began plotting to strike at the guide websites.

This was precisely why Chen Yansen had insisted last year on selling Fox Taobao as a package.

Alibaba’s guide business was too dominant, and JD, YiXun, and Amazon were no match—if Ma Liyun struck, Fox Taobao’s valuation would at least halve.

Even if it weathered 2013 and 2014, once Alibaba went public, Old Ma would definitely turn and stab him in the back.

Fortunately, he acted in time; with LeTian and Augusta Capital’s cooperation, he offloaded Fox Taobao to Alibaba and used the proceeds to found Orange Tech and Pinbei Mall.

Thus, no matter how dissatisfied Ma Liyun was, guide e-commerce remained e-commerce platforms’ best partners in 2012.

When Pinbei extended the olive branch, both sides instantly agreed—Mogujie, Meilishuo, and What’s Worth Buying joined Pinbei Alliance, adjusting their platform’s Pinbei product display ratio from 15% to around 45%, nearly matching Taobao’s share.

Dozens of mid-tier guide websites also gradually joined Pinbei Alliance, treating it as their core business.

On October 20, with third-party traffic support, Pinbei’s daily sales broke the 2-billion mark for the first time, reaching 2.06 billion Huayuan.

Meanwhile.

Hu Weiyi, after securing 50 million from Senlian Capital, founded the ofo bike-sharing project in Hangcheng, beginning her entrepreneurial journey.

Far away in Yancheng, Cheng Wei quickly received the news; upon learning that Chen Yansen was the investor behind ofo, he immediately broke down: “I didn’t even offend you! Why are you still chasing me?!”

But he knew deep down that with Senlian Capital’s funding and resources, ofo’s progress would far exceed his imagination.

“Didi Bike must launch its Series A financing immediately!”

Cheng Wei couldn’t wait—he dared not play it safe to capture the market, instantly making up his mind.

(End of Chapter)