Retail Cloud, a subsidiary of China-based smart retail service provider Suning, has opened its 9,000th store in the country.
The store, located in the south-western city of Chongqing, is owned by retail cloud franchisee Bi Bo.
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By GlobalDataBo said: “Home appliances and home furnishing businesses can bring more choices for customers, thus increasing sales while attracting more customers. I believe this is the big advantage of Suning Retail Cloud.
“The single-handed model of doing business no longer works. What we are competing is the comprehensive user experience brought by brand, management, after-sale services including logistics and others.”
Suning aims to strengthen its footprint in south-western China by opening another 600 Retail Cloud stores. This would take its total number of stores in the region to 2,000.
Retail Cloud focuses on lower-tier cities and county-level markets in China, aiming to help micro and small business merchants to start a business.
It addresses daily operation difficulties experienced in supply chains, software-as-a-service (SaaS), logistics and warehouses.
It has partnered with more than 1,800 brands so far, and serves more than 200 million users through online and offline platforms.
Suning.com senior vice-president Gu Wei said: “In three years of rapid development, Retail Cloud has always worked closely with partners to grow together and achieve win-win situations.
“By reorganising and integrating resources in the upstream and downstream of the entire industry value chain, Retail Cloud has built a modern business circulation system in counties and towns that takes into account both quality and efficiency.”
Suning officially launched Retail Cloud in July 2017. As of last December, the retailer has successfully opened a total of 8,000 stores.
During the first quarter of this year, the business opened 584 more stores and saw its sales scale increase by 69% year-on-year.
Last month, Retail Cloud closed a series A financing round with participation from CPE China Fund and ADV Partners.
In September 2019, Suning signed a deal to purchase an 80% stake in French retailer Carrefour’s Chinese operations for €620m ($677.22m).
