The Upgrade from 'Smart Retailer' to 'Smart Retail Service Provider' Boosts Suning.com's 818 Shopping Festival Sales
NANJING, China, Aug. 20, 2020 /PRNewswire/ -- Suning.com (002024.SZ), China's leading O2O smart retail provider owned by Suning Holdings Group, which has been featured on the Fortune Global 500 list for the fourth consecutive year since 2017, completed its annual 818 shopping festival yesterday.
At the 818 shopping festival Cloud Conference, Gu Wei, vice president of Suning.com announced that the next ten years will be defined as "a decade of scenario retail services". Suning.com will upgrade from "smart retailer" to "smart retail service provider".
During its 818 shopping festival, Suning promised price protection for 60 days. If the purchase price is higher, it will compensate the customer the price difference; delivery, distribution, and after-sales services were guaranteed on time, and the users will be compensated if there for delays; in order to fully protect the rights and interests of users, Suning.com implemented rapid review and rapid refund to ensure worry-free returns. In addition, Suning.com's transaction services, contract performance services, and experience services were comprehensively improved.
In the previous 618 mid-year shopping festival, Suning's "J-10%" money-saving plan saw impressive growth, and for the 818 shopping festival this year, Suning has expanded the product range of the "J-10%" money-saving plan. In order to bring more benefits to consumers, Suning's price advantages will become the norm.
During the 818 shopping festival, online sales performance increased by 107% year-on-year. Among them, the online sales performance of home appliances increased by 129% year-on-year, online orders for home improvement categories increased by 330% year-on-year, orders from Suning supermarkets increased by 141% year-on-year, and more than 1 million VIP memberships were added.
"No matter where we are, no matter where we are going, Suning will always fight for users and always insist on doing a good job. Retail is a marathon without an end. As long as we stay steady, we will definitely win," said Zhang Jindong, Chairman of Suning Holdings Group. Suning has experience in retail, chain retail, and Internet retail; from "smart retailer" to "smart retail service provider", no matter how Suning's role changes, the original intention of service will not change.
Founded in 1990, Suning is one of the leading commercial enterprises in China with two public companies in China and Japan. In 2019, Suning Holdings Group ranked as the top three brands among the top 500 non-state owned enterprises in China with annual revenues of RMB 602.5 billion (approximately EURO 77.24 billion) and continued to top the list of Internet retailing category. Adhering to the enterprise mission of "Leading the Ecosystem across Industries by Creating Elite Quality of Life for All", Suning has strengthened and expanded its core business as retail through a corporate ecosystem comprised by multiple vertical industries, including commercial real estate, financial services and sports. Suning.com, the main subsidiary pioneering in online and offline retailing, has been listed in the Fortune Global 500 for four successive years from 2017 to 2020.