“Three-No Refund Policy” Stays Alive for 10 Years, China Is under Change

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Ten years ago, YU Huiyong, the founder and chairman of Pagoda, prevailed over all dissenting views and insisted on carrying out the service of “Solution to Bad Taste Fruit: Three-No Refund Policy”(which is No need of target fruit, No receipt and No excuse) in all stores nationwide. At that time, this service was ridiculed by his peers and even distrusted by his own people. But ten years later, YU Huiyong and his Pagoda, by virtue of his stubbornness, has successfully increased the company’s sales scale from 100 million Yuan to 10 billion Yuan. And more admirably, Pagoda has made three great changes for China.

Change the way connected enterprises and customers

Most people believe that the way and the link between enterprises and users are nothing but their products and services. Indeed, products and services have made a substantial connection between the company and its users, while Pagoda holds the view that compared to product and service, “Trust” is the first connection between the enterprise and customer. Ten-year practice has proved that with the “Three-No Refund policy”, Pagoda not only achieved a great performance in business, but also gained the customers’ trust. The data shows that among those who had experienced the “Three-No Refund Policy”, the proportion of those who had made more than 10 purchases jumped from 1.4% to 34.1%. And the industry’s biggest headache, “malicious returns”, its impact is also reduces to the lowest with Pagoda’s full sincerity. In 2.34% of refund customers, 99.03% of them are normal refund, only 0.97% abnormal. Through the bridge of trust, Pagoda continues to obtain customers’ recognition and long-term support, but also inadvertently grows into a mature enterprise with a perfect value system.

(Related Video URL:https://v.qq.com/x/page/d0871vqf819.htmlChange the company’s perspective towards development and services

Before establishing Pagoda, it is YU Huiyong’s insight that on the one hand notices there is still no such a fruit brand that has scale and influence both domestic and abroad; on the other hand, “Being yummy” is the most fundamental and core requirement of the customer.

By this way, to serve the customer with “Yummy” fruit rose to a strategic level. But we have to say, “Beauty is in the eye of the beholder”, taking orange as an example, some people feel the higher sweet degree the yummier it is, while some other believe sour flavor is more delicious, which enables “ Being yummy” to be a hollow concept.

How to solve this problem? YU Huiyong and his Pagoda made a bold decision, that is to serve the customers with “Solution to Bad Taste Fruit: Three-No Refund Policy” over ten years. Aiming at developing and better services, Pagoda delivers the right to judge the fruit “Being yummy” to the customers. With years of efforts, Pagoda gained the trust of customers. Pagoda has demonstrated to us all that to develop a company, in addition to marketing and by technology, people could reply on the trust of customers.

Change the status of “Trust” in deals

Some people say that everything should be closely tied up with interest in the fierce market competition. But YU Huiyong could not agree. He believes that if the spirit of social contract based on trust cannot stands at a dominant position in people’s mind, then all development and cooperative relations are just empty talk. In fact, he always holds that, with inspiration and guidance, the light of social contract could shine on the whole world.

YU Huiyong once said in public that “one thought reflects numerous ideas at heart, but among which goodwill should prevail first. Malicious refunds, after all, are rare and often hidden. At this time we need to stick it out like a fool, one day the seed of trust will grow roots and blossom. We should believe that our trust eventually will shine in them.” A kind of good idea rooted in the bottom of his heart drives YU Huiyong and his Pagoda to take “trust” as the life of company. Meanwhile, by such kind of enterprise values, it deeply affects the customers of Pagoda and conveys the essence of Chinese traditional culture.

 

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