O2O smart retailer Suning.com has had first-quarter omni-channel sales of RMB69.33 billion (about US$11 billion) – growth of 46.33 per cent year on year.
Owner Suning Holdings Group says Suning.com generated operating revenue of RMB49.62 billion, up 32.76 per cent.
For six quarters now, Suning’s smart retail business has seen stable growth. During the latest quarter, the total volume of online physical trading rose 81.5 per cent to RMB39.77 billion. As well as this, the number of monthly active users of the Suning.com app increased by 60.48 per cent. In March, orders via the app reached more than 90.2 per cent of total online orders.
At the end of March, Suning owned 4141 direct-sale physical stores and 209 retail cloud franchise stores. It also opened 210 internet-connected convenience stores in major and low-tier cities.
Suning’s logistics revenue (excluding Tian Tian Express) grew by 84.84 per cent while its financial services arm grew its penetration rate by 257.8 per cent. The company has also developed a black list powered by blockchain technology to help combat financial fraud.
