Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 22

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 4
Chunk 22
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 exclusive products, including products under our owns brand names on our platform. In addition, through exclusive arrangements
with suppliers, we are able to offer selected SKUs and sets of cosmetic products under popular brands exclusively on our platform, such
as selected SKUs and sets of cosmetic products under the FRUITY brand of Longrich Group Co., Ltd, a related-party and Zoflora disinfectants
from the leading European pharmaceutical company STADA. We do not substantially depend on such products from any of our exclusive products
suppliers.

In response to the sluggish market and
demand for low-priced products after a slow recovery from the pandemic, we have launched high-quality yet affordable daily
necessities this year.

Customers

Our large, engaged and loyal customer base is
the key to our success. The loyalty of our customer base is demonstrated by repeat purchase rates. In 2024, there were 343,440 customer-placed
orders on our platform, of which 105,908 or 30.84% are repeat customers. In 2023, there were 131,616 customer-placed orders on our platform,
of which 48,591 or 36.92% are repeat customers. In 2022, there were 184,079 customer-placed orders on our platform, of which 62,936 or
34.19% are repeat customers. In 2024, the number of repeat customers increased by 117.96% compared with 2023. In 2023, the number of repeat
customers decreased by 22.80% compared with 2022. If a customer returns to our platform and purchases from us within 30 days from his/her
previous purchase, it is considered as a repeat customer.

Marketing

We believe that the most efficient form of marketing
for our business is to continuously roll out creative and cost-efficient marketing campaigns to establish our brand image as a trendsetter
for safe and healthy products. These marketing campaigns promote word-of-mouth referrals and enhance repeat customer visits to our internet
platform. We also use live streaming marketing, social media and self-media platform marketing such as our WeChat public information release
account to communicate with our customers and issue promotions and products information and live streaming promotion of our products through
TikTok Live, Kuaishou live and Taobao live. As a result, we have been able to build a large, engaged and loyal customer base with relatively
low customer acquisition costs. Our cost-effective marketing campaigns have allowed