Global supply chain capability is the strength for Suning in its success during the 618 Mid-Year Shopping Festival in China
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Suning’s “J-10%” money-saving plan, targeting household appliances, mobile phones, computers, supermarkets and other categories participating in the subsidy activities will be at least 10% lower than other major e-commerce platforms’ hand price. During the 618 Mid-Year Shopping Festival, major platforms are providing tens of billions of subsidies, and the benefits are complicated for consumers to figure out.
At the same time, Suning also launched the multi-categories top-selling products plan, depending on the supply chain price advantage and platform supplements to reduce price to the end. “This year’s 618 Mid-Year Shopping Festival is not only a price war, but also a service war,” said Gu Wei. He also explained that the “1V1” customer service plan will allocate service strength to the maximum value and match exclusive services for each consumer.
In addition to the providing competitive pricing, variety performance events are the second area of focus in the Festival. Suning.com Super Show invited many superstars and celebrities to create a livestream. The show and stars’ livestream had a strong effect on sales. After 5 and a half hours, the turnover exceeded RMB 5 billion and the number of viewers on the platforms exceeded 120 million.
According to the data released by Suning during the 618 Mid-Year Shopping Festival, Suning’s omni-channel sales scales increased by 129% and retail cloud sales increased by 431%. Among them, Apple, Midea, Gree, Haier, Huawei, Xiaomi and other brands’ sales performance broke RMB 100 million in just an hour.
Global supply chain capability is the foundation of sales competitiveness. Zhang Jindong, Chairman of Suning Holdings Group said, “The capabilities of Suning’s global value chain must be implemented at providing affordable prices and high-quality services to users, and by providing the ultimate service experience.” At the 618 Mid-Year Shopping Festival, Zhang Jindong put forward the concept of “value war” on the basis of price war, which actually put forward higher requirements on Suning. Relying on the advantages of the global value chain, Suning can maintain competitive prices as well as top-level service, raising a new standard for industry competition.
SOURCE Suning Holdings Group
