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NANJING, China, July 5, 2021 /PRNewswire/ — Suning.com (002024.SZ), China’s leading smart retail service provider and a Fortune Global 500 company owned by Suning Group, today announced its Retail Cloud (Ling Shou Yun) subsidiary will open 900 stores in the next three months, and the home furnishing store as a new store model will be the business focus in Q3.
Data from Retail Cloud Stores shows that during China’s mid-year shopping festival “618”, the growth of refrigerator and washing machine products from domestic brands including Meling and Little Swan increased by more than 100% year on year, the overall growth of high-end home appliance brand Panasonic increased by 130% year on year, the year-on-year growth of domestic kichen appliances maker VATTI reached 260%.
Officially launched in July 2017, Retail Cloud is Suning’s important business sector that aims to help micro and small business merchants thrive in lower-tier cities and county-level markets in China. The 10,000th Retail Cloud store will be launched in Q3, according to the plan.
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SOURCE Suning Group
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