JD Logistics Simplifies the Loyalty Rewards Process for Banks
China CITIC Bank has tapped Chinese e-commerce giant JD.com to be its exclusive delivery provider for gifts sent to China CITIC’s credit and debit cardholders as part of the leading Chinese financial institution’s loyalty points program. The move significantly streamlines the process for China CITIC, cutting average delivery time to customers from 5.5 days to 2.5 days across China, increasing efficiency by more than 100%.
China CITIC works with several different gift suppliers in order to ensure a wide assortment of products for its customers to choose from. Users simply log onto the bank’s “Points Mall” to exchange their loyalty points for a qualifying gift of their choice. In the past, logistics to get gifts into the hands of customers (including choice of delivery provider) were managed by each individual gift supplier. Working with JD Logistics, the gift suppliers now send gifts to the JD warehouse located nearest to them, and JD’s in-house delivery service handles last mile delivery to customers all across the country. JD has also helped China CITIC maximize their brand exposure by creating attractive gift packaging featuring the China CITIC logo.
“We’re honored that China CITIC Bank has entrusted JD with the delivery of gifts to their most loyal cardholders,” said Wei Tang, Head of Key Account Management at JD Logistics. “Leveraging over a decade of experience in logistics, from warehousing down to last mile delivery to the customer, we are able to help partners in a wide range of industries significantly streamline the fulfillment process, improve efficiency and increase customer satisfaction.”
JD’s partnership with China CITIC Bank is the latest example of its Retail as a Service (RaaS) strategy in the financial services sector. Under RaaS, JD is leveraging its significant experience in logistics, from fulfillment to delivery, as well as technology and other capabilities, in order to enable partners in other industries to improve efficiency and reduce costs. JD now provides logistics support to 70% of China’s state-owned and joint-stock banks. The company has also previously leveraged its capabilities to increase the efficiency of supply chain and replenishment solutions for offline bookstores and to provide cloud warehouse solutions to small and medium businesses.