Chinese retail giant Suning Holdings Group aims to help more American brands enter China.
“Our goal is to double the sales of made-in-America brands in three years,” says chairman Zhang Jindong.
He says China’s new policy and strategies to drive the economy will result in “huge” demand for American products like smart devices, service robotics, electric vehicles and high-end household appliances.
Described as a combination of Amazon and Wal-Mart, Suning has an annual trade volume of more than US$130 billion, covering Japan, Europe and the US. The company has a strategy to procure more high-quality foods, maternal and child products, as well as healthcare products for China. Suning is already the largest retail partner of AO Smith and Whirlpool, as well as tech giants Dell, HP and Microsoft.
Zhang says Suning’s cooperation with leading American companies has laid the foundation of its global expansion. Through using big data, he says Suning can team up with American companies to provide personalised products for Chinese consumers.
“Smart retail is the future of the industry,” says Zhang. “China has a vast population and very diversified communities, while the US has world-leading technologies. Smart retail is the best bridge for both.”
He says big data and artificial intelligence have become common interests of Chinese and American enterprises. As well as Suning, companies like Amazon and Walmart have made many attempts at smart retail. “The development in China will create a huge application scenario for American tech companies.”
He cites the cashier-free store such as Amazon Go and Alibaba’s Tao Cafe. Suning plans to unveil a fully commercialised staff-free store next month.
Founded in 1990, Suning Holdings Group provides comprehensive services for consumers, as well as supporting overseas companies entering the Chinese market.