Suning.com, one of the largest retailers in China, is planning to set up 12,000 smart retail stores by 2020, Yicai.com reported.
At present, Suning is increasing the export of smart retail capabilities to both online and offline, and franchisees are playing an important role in helping Suning connect with the county market.
Such stores will mainly be set up in the fourth- to sixth-tier counties or towns. Franchisees can enjoy Sunning’s brand awareness and resources of sales, promotion, logistics and big data, as long as they bear the operating costs.
With retail POS and big data platforms, merchants can see their sales in real time every day. Hou Enlong, president of Suning.com, said after upgrading the stores with smart retail technologies, average sales volume has more than doubled.
Inventory turnover has also increased by 6 times and the repurchase rate has increased by 100%. The profit amount is 2 to 3 times that of the similar business in the market.
As of August 8 this year, the number of Suning smart retail stores has reached 1,010.