18(a) Describe the mission/purpose of your proposed gTLD
|gTLD||Full Legal Name||Detail|
|.shop||BEIJING JINGDONG 360 DU E-COMMERCE LTD||View|
18(a) Describe the mission⁄purpose of your proposed gTLD.
Mission Statement: To create a more unique, recognizable, trustworthy and stable e-commerce domain namespace for Internet users, meanwhile providing registrars and registrants an opportunity to expand their existing business or to explore new business models.
Business Model: .shop TLD is mainly targeting all existing e-commerce businesses, as well as trustworthy retail suppliers and service providers, who are intended to expand their businesses on the web.
E-commerce is the most advanced mean of utilizing modern information technology and network capacity to carry out business activities. The power of Web enablement is that geographical boundaries disappear for an enterprise. Thus, an E-commerce initiative can easily become a global E-commerce initiative. It becomes extremely critical for modern business enterprises to acquire continuous supply capacity, create growing consumer demands and strengthen market competitiveness so as to gain a foothold in globalized business environment. Thus, to survive in the 21st century, an enterprise should integrate its conventional business approaches with advanced e-commerce model to keep up with the global trends of development.
As far as the global e-commerce market is concerned, JPMorgan Chase & Co. expects e-commerce revenue will grow to USD 680 billion worldwide by the end of 2011, up 18.9 percent compared to 2010. The same source predicts that the global e-commerce market is likely to grow at a 19.4% compound average growth rate between 2010 and 2013, with e-commerce revenue hitting USD 963 billion by 2013. Moreover, In the United States, the population of online shopper has been increasing continuously; about 38% of them shop online at least once a month. The proportion of those who never shop online dropped from 20% in 2007 to 12% in 2010. Meanwhile, China, already home to the world’s largest online population, is currently the second biggest e-commerce market in the world and has ushered in its explosive growth period. According to Boston Consulting Group, the amount of online shoppers in China has already reached 145 million in 2011, with exponential growth expected that could bring the number to 329 million by 2015 and make the e-commerce market in China the worldʹs most valuable.
It all starts with a smart choice of domain name which can represents the e-merchants’ unique online identity. In addition to embodying its brand value, an excellent domain name itself is a hot commodity with immense value. Only a simple, easy-to-remember, and meaningful domain name can undertake the mission of corporate branding and be recognized by more internet users. Moreover, as a relatively new business model, network- and finance-based development is the key point while authentication and security issues are the prerequisite of e-commerce development.
It is obvious that the existing top level domains (TLDs) are not able to fully and effectively satisfy the demands of e-commerce development. We are in desperate needs of a designated domain namespace that can be reasonably classified based on its goals and purposes and instantly recognized by Internet users. The proposed .shop TLD serves this purpose almost perfectly. It is both a noun and a verb and one of the most recognizable shopping related words around the world. Businesses can obtain a .shop extension which can represent their unique e-shop identity to further expand their businesses online, thereby constructing an existing or brand new platform for the development of their online and offline products and services.
Meanwhile, .shop will enhance Internet usersʹ trust as abuses like phishing, domain name parking and hijacking will be better resolved. Internet users can better rely on the new generic TLD (gTLD), which are the brand personification of the actual entity. They can also benefit from the uniqueness and high recognition of .shop to search and identify the reliable online merchants more effectively and enjoy a more secure and convenient shopping experience. To sum up, the successful registration and operation of the .shop gTLD will impulse a healthy development of global e-commerce industry and enhance the confidence of millions of consumers for online shopping.
As one of the largest online retail enterprises in China, JINGDONG 360 DU (hereinafter referred to as JINGDONG), plans to apply for this unique and influential TLD to promote the development of e-commerce business.
For the .shop TLD application, JINGDONG has three prominent advantages. First, JINGDONG has innovative and pioneering spirits for online products as well as successful experience and capabilities for market development and expansion. It is currently the largest direct online retailer in China. Ever since it pioneered into the e-commerce field in 2004, it has maintained a fast growing momentum, with growth rate exceeding 200% for six consecutive years. In 2010, it became Chinaʹs first online retail enterprise with a sales volume of RMB 8.6 billion accounting for 37% in Chinaʹs B2C online business. It is also increasing its overseas procurement efforts to further promote its international strategy.
Second, JINGDONG is an expert in customer relationship management with a deep understanding of consumer needs. It always adheres to the pure e-commerce business model and tries every means to shorten intermediate links so as to provide consumers with quality products and satisfactory online and offline services. In addition, JINGDONG also leads the online retail market by continuously optimizing services and sets a benchmark for creditable operation in Chinaʹs e-commerce industry.
Last but not least, JINGDONG has already established long-term cooperation with 6,000 global partners and suppliers, with a deep understanding of the demands of interested parties along e-commerce industrial chain on domain names. Moreover, JINGDONG’S mature online and offline marketing strategic planning and execution capability will contribute to the successful promotion of .shop awareness among target users. Currently, JINGDONG has 42 million registered users throughout China and covers over 11 categories of high quality products including household appliances, digital communications, computer, apparel, baby accessories and book ,est. ; it processes over 300,000 orders per day and the average daily page view (PV) of website exceeds 50 million.
JINGDONGʹs fast development and promising prospects have won the favor of well-known international venture capital funds. At the beginning of 2011, JINGDONG got the financing of USD1.5 billion from 6 funds including Russiaʹs Digital Sky Technologies (DST) and the Tiger Fund. This is so far the largest single amount of financing in Chinaʹs Internet market, indicating investorsʹ strong recognition and confidence in JINGDONGʹs successful business model and excellent performances.
To sum up, JINGDONGʹs advantages mentioned earlier will provide a solid and reliable foundation for successfully launching and operating .shop gTLD. JINGDONG strikes to become the most professional and innovative registry operator that can best serve the needs of the e-commerce industry development while providing benefiting the internet users. With the seamless integration of JINGDONG’s mature marketing solutions and its back-end service operator - KNET’s leading technology and services, the future .shop registry will attract all existing and upcoming e-commerce merchants worldwide as the loyal registrants of .shop. Meanwhile, JINGDONG will be committed to providing the best-of-class domain name services to help registrants utilize the unique values of .shop gTLD to the maximum extent after domain registration so as to contribute to a more convenient, efficient, and reliable online shopping experience and environment for the netizens.
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