Suning.com Listed On Fortune Global 500 List for Fourth Consecutive Year
NANJING, China, Aug. 14, 2020 /PRNewswire/ -- Suning.com (002024.SZ), China's leading O2O smart retailer owned by Suning Holdings Group, has been featured on the Fortune Global 500 list for the fourth consecutive year since 2017. Suning.com was listed with an annual operating revenue of USD $38.97 billion.
Four consecutive years on the Fortune Global 500
The Fortune Global 500 is an annual list compiled and published by Fortune magazine, which ranks the world's leading 500 companies by revenue. Over the years, Suning.com has continued its meteoric rise as a result of its innovative full-scenarios layout, which combines digital transformation with an unwavering commitment to developing burgeoning businesses and establishing its own retail ecosystem.
Since starting its online-to-offline transformation in 2009, Suning.com has emerged as China's leading smart retailer as a result of its comprehensive integration of online and offline retail. In 2019, the retailer's acquisition of the Wanda Department Store and Carrefour China has also injected strong growth in its FMCG category.
Acquisition of Carrefour China in 2019
Suning.com's diversification into FMCG with Carrefour China provided prime growth opportunities for the retailer in the past year. Between January and June 2020, Suning.com saw sales volume for general merchandise increase by 114.50% year-on-year. Furthermore, on July 30, the official start of Suning.com's 818 Festival, home delivery orders on Carrefour's channels increased 115% from the previous month.
Suning.com has also transformed Carrefour's door-to-door business, ensuring delivery within 3km in one hour, 10km in half a day. In addition, the retailer has completed construction for fast pick-up warehouses and conducted systematic upgrades for Carrefour stores across the country — enabling the FMCG giant to truly achieve full-scenario, high-efficiency, cost-effective omnichannel shopping and delivery services.
Opening the 6000th Suning.com retail cloud store
In a challenging environment, Suning.com's retail cloud stores empower small and medium-sized entrepreneurs to break the barriers between online and offline in the wake of the pandemic, creating a new business model that combines the supply chain with offline stores and social e-Commerce. In the past three years, Suning.com has opened more than 6,000 retail cloud stores, with its service reaching over 200 million users in counties and towns across the countries.
The transformation from "retailer" to "retail service provider"
Fueled by digital technology and eCommerce, both brands and retailers are gradually shifting to an ecosystem that consists of large-scale distribution and connectivity. With a 30-year legacy of commitment to exceptional customer service, Suning has evolved its offering over the years in order to meet the changing demands of consumers. Starting as a traditional retailer, Suning.com quickly evolved into a chain retailer, then entered the eCommerce space, before finally entering its fourth decade of operations as a "retail service provider".
Zhang Jindong, chairman of Suning Holding Group, said: "Ten years of development depends on innovation, while a century of development depends on services. User experience is always the primary consideration for all decision-making at Suning.com."
Looking ahead, Suning.com will continue to focus on providing value for users and deepen its offering with retail at its core. By adhering to its commitment to service, focusing on long-term value for users and retailers alike, and maximizing its retail ecosystem, Suning.com will continue its uncharted growth in retail market.
Founded in 1990, Suning Holdings Group is one of the leading commercial enterprises in China, with two public companies in China and Japan. Suning, which ranks third in the top 500 Chinese private enterprises, is dedicated to serving more than 600 million customers worldwide with over 280 thousand employees. With its mission of "Leading the Ecosystem Across Industries by Creating Elite Quality of Life for All", Suning has shaped an industrial layout featuring coordinated development of real estate and financial service with retail at the core.