Suning to Open 543 Stores in 2010
Sohu IT, 3/08/10
Zhang Jindong, chairman of Chinese electronics retailer Suning (002024.SZ), recently said that though many companies have engaged in B2C and B2B e-commerce, online stores are unable to provide additional value, offering only low prices, which is not in keeping with business development practices. For this reason, Zhang argued, online malls are unlikely to become mainstream channels and will only serve as a complement rather than a substitute to brick-and-mortar stores.
Zhang said that Suning will open 543 outlets this year, with 200 already arranged to open in first-tier and second-tier cities, including both flagship and conventional stores. Nearly 300 stores will be opened in rural areas, while Suning will open another 20 high-end goods stores nationwide. Suning will open over 60 logistics bases over the next two years to support the new stores, in order to provide a seamless distribution network and strong back-end support.
Keywords: Zhang Jindong e-commerce hardware Suning 002024.SZ consumer electronics home appliances retail
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