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Bailian eyes online sales boom
By Jin Jing and Ding Yining |
December 26, 2009, Saturday
|
Print Edition
Print Edition
CHINA'S biggest retailer, Shanghai Bailian Group Co, yesterday launched its first online shop after investing an initial 70 million yuan (US$10.3 million) as it seeks to build the nation's biggest online department store.
The shop, www.blgfsc.com, marked Bailian's entry to the e-commerce business and allows it to compete with leading business-to-customer portals in the booming online sales sector.
"Online shopping has great potential in China and would be a breakthrough for traditional stores in the future," said Huang Zhencheng, general manager of Shanghai Bailian, which was formed after merging four state-owned enterprises in 2003. It is China's largest retailer with 7,400 stores nationwide, including department stores and supermarkets.
China's online sales value almost doubled to 168.9 billion yuan in the first nine months from a year ago.
Bailian's online store will stock about 5,000 kinds of products for sale, including top world fashion brands, with discounts of up to 74 percent. Imported snacks, household appliances and authorized items for the 2010 Shanghai World Expo will also be available.
The company targets several billion yuan of revenue from the online store within three years, but this is small compared to its total revenue of 20.7 billion yuan this year.
Zhang Yanping, an analyst at iResearch Inc, said the online store won't make contribute greatly to Bailian's performance in the short term because of the huge investment and will need time to develop.
Bailian's Huang also shared Zhang's view, saying he didn't expect the online shop to sharply impact sales in its physical shops because of different customers.
The shop, www.blgfsc.com, marked Bailian's entry to the e-commerce business and allows it to compete with leading business-to-customer portals in the booming online sales sector.
"Online shopping has great potential in China and would be a breakthrough for traditional stores in the future," said Huang Zhencheng, general manager of Shanghai Bailian, which was formed after merging four state-owned enterprises in 2003. It is China's largest retailer with 7,400 stores nationwide, including department stores and supermarkets.
China's online sales value almost doubled to 168.9 billion yuan in the first nine months from a year ago.
Bailian's online store will stock about 5,000 kinds of products for sale, including top world fashion brands, with discounts of up to 74 percent. Imported snacks, household appliances and authorized items for the 2010 Shanghai World Expo will also be available.
The company targets several billion yuan of revenue from the online store within three years, but this is small compared to its total revenue of 20.7 billion yuan this year.
Zhang Yanping, an analyst at iResearch Inc, said the online store won't make contribute greatly to Bailian's performance in the short term because of the huge investment and will need time to develop.
Bailian's Huang also shared Zhang's view, saying he didn't expect the online shop to sharply impact sales in its physical shops because of different customers.
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