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Suning taps general goods for income
By Ding Yining |
February 22, 2013, Friday
|
Print Edition
Print Edition
SUNING Appliance Co, China's largest home appliance retailer, will include more general merchandise to diversify its revenue stream as it completes upgrading of existing stores this year.
By the end of this year, all of Suning's existing outlets will also serve as pick-up points for orders placed on Yigou, its online shopping arm unit. Last year, Yigou's sales hit 18.3 billion yuan, more than tripled from 2011, but still fell short of the 20 billion yuan target.
The retailer also set up three independent business management centers to run its chain store, e-commerce and sourcing as a part of its business transformation process after it changed its name to Suning Commerce Group earlier this week, chairman Zhang Jindong said in Nanjing yesterday.
Fan Zhijun, general manager of Suning's Shanghai management center, said general merchandise will make up about half of the goods sold in Suning outlets by the end of this year.
Its existing brick-and-mortar stores will be refurbished and the size of home appliance counters will be cut to give more space to general merchandise.
Suning now has 80 outlets in Shanghai and it will open five to eight new stores in the city in 2013.
The growth is slower than previous expansion as it will focus on quality and service in the new stores, Fan said in Shanghai yesterday.
By the end of this year, all of Suning's existing outlets will also serve as pick-up points for orders placed on Yigou, its online shopping arm unit. Last year, Yigou's sales hit 18.3 billion yuan, more than tripled from 2011, but still fell short of the 20 billion yuan target.
The retailer also set up three independent business management centers to run its chain store, e-commerce and sourcing as a part of its business transformation process after it changed its name to Suning Commerce Group earlier this week, chairman Zhang Jindong said in Nanjing yesterday.
Fan Zhijun, general manager of Suning's Shanghai management center, said general merchandise will make up about half of the goods sold in Suning outlets by the end of this year.
Its existing brick-and-mortar stores will be refurbished and the size of home appliance counters will be cut to give more space to general merchandise.
Suning now has 80 outlets in Shanghai and it will open five to eight new stores in the city in 2013.
The growth is slower than previous expansion as it will focus on quality and service in the new stores, Fan said in Shanghai yesterday.
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