Suning Commerce Group

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Suning Holdings Group
Public
Industry Retail
Founded 1990
Founder Zhang Jindong
Headquarters Nanjing, Jiangsu, China, China
Area served
 Worldwide
Key people
 Zhang Jindong (chairman)
Revenue RMB 135.6 billion (2015)
RMB 872 million (2015)
Number of employees
 24,951
Divisions Suning Commerce R&D Center USA
Website Suning Commerce Group
Suning E-commerce Site

Suning Investment Site

Suning Real Estate
Suning Commerce Group Co., Ltd.
Simplified Chinese 苏宁云商集团股份有限公司
Traditional Chinese 蘇寕雲商集團股份有限公司

Suning was founded in 1990 as a small-sized business. Rooted in its entrepreneurial spirit, and through decades of expansion and transformation, Suning now ranks among the top three Chinese non-state owned enterprises in China with close to $50 billion in annual sales. At present, Suning has two listed companies: Suning Commerce Group (simplified Chinese: 苏宁云商; traditional Chinese: 蘇寕雲商; pinyin: Sūníng Yúnshāng; SZSE: 002024) and LAOX (TYO:8202), at home and abroad. With more than 1,600 chain stores covering over 700 cities in China, Hong Kong (Hong Kong Suning) and Japan (LAOX), Suning strives to continue its torrid growth across five vertical industries. They include: commerce, real estate, culture & entertainment industries, investment, and financial holdings.

Company history

1990.12.26, Suning was founded in Nanjing, the very first air-conditioner retail store of Suning.[1]

2004.7, Suning Appliance Co., LTD was listed on SZSE. With excellent performance , Suning Appliance has been highly recognized by the investors , and became one of the retailers with the highest market value in home appliance area . Suning Appliance Co., Ltd. was named by Buffett magazine , the world competitiveness of enterprises Laboratory , the world's Economist magazine as one of the 2010 ( seventh ) China 100 listed companies , ranked No. 61 . In 2013, Suning ranked ninth on Hurun Wealth List.

According to the market needs, based on the principles of professionalism and standardization, Suning Appliance formed 4 retail categories: flagship stores, community stores, professional stores, specialty stores.

After 2011, Suning continued to promote the new decade "technological transformation , intelligent service " development strategy ,further deepen the cloud service model and gradually explore "online and offline" multi-channel integration, whole category operations, and open platform services. We believe that the future of China 's retail model will be " E-Commerce+ Offline stores+retail service providers", known as "cloud provider ".

2013.2.19, Suning Appliance announced that , based on the integration of "online and offline" multi-channel inegration, whole category operations, and open platform services. Suning intends to change the company name to " Suning Commerce Group Co., Ltd." , in order to better adapt with current business scope and business model. The name change can be seen as Suning technological transformation strategy has taken another big step forward, also declared the official launch of Suning "cloud provider " new model.

O2O Transformation

O2O Proposal

2012.3, during the National People's Congress and Chinese People's Political Consultative Congress, Zhang JinDong proposed that Suning's goal is to be the "Wal-Mart + Amazon ."in China.[2] Suning O2O model started its journey, and this year is also known as Suning O2O year , China O2O thus kicked off.

O2O Strategic Layout

2013.2, Suning clearly stated, " E-commerce + offline stores + retail service provider" as the new model; In June, All the Suning stores achieved "the same product the same price" with Suning.com;[3] In September, during the Hony Annual Meeting ,Zhang Jindong first stated "One Company, Two Wings" future road map, which clearly pointed out the direction of future development of China's retail industry---Internet Retail, focusing on O2O and open platform;[4] in November, Zhang Jindong was invited by Stanford University as the speaker of O2O;[5] Suning also launched the first version 1.0 of Internet stores around tier one cities in China.[6]

Suning further improved its "all categories , all channels , all segments" of the business layout ,established a new pattern of the Internet retail "One Company, Two Wings " strategy ,completely formed its O2O Strategic layout.

O2O Strategy Execution

In the supply chain area, Suning further transform the collaboration model of the supply chain, and changed the negotiation based model in the past , also transited to the user demand-driven commodity model of cooperation, to develop a " consolidation of major appliances, highlighting 3C, foster baby products " category focused strategy.

companies and affiliated entities

Suning Commerce Group

In the Era of Internet, Internet of Things, and Big Data, Suning continues to execute its long-time commitment to superior customer service and flawless merchandise operations, through a carefully designed internet retail blueprint of:

  • One Body: that embodies the fundamental essentials of retail.
  • Two Wings: that promotes the seamless integration of online and offline operations.
  • Three Clouds: opening up its logistics, financial, and big data services via the cloud.
  • Four User Entry Points: enabling an Omni-channel experience to anyone, anywhere, and any time.

At the same time, Suning's products portfolio has dramatically expanded from just home appliance and 3c, to supermarket, mother-and-baby, general merchandise, cloud services and more.

  1. Omni-Channel User Entry Points: With advancement in information technology, Suning has implemented a true omni-channel experience for its users via 4 entry points; be they inside brick-n-mortar stores, via PCs, mobile devices, or TVs at home. Suning has opened Internet stores inside shopping malls, residential areas, office buildings, and life plazas. Sales, customer service, and logistics service data are all digitized. Together, Suning delivers a seamless and integrated shopping experience, online or offline.
  2. Merchandises: Powered by cloud computing and big data technologies, Suning successfully implemented optimized manufacturing, and personalized marketing catered to individual end user needs. Its retail platform now offers a comprehensive SKUs of more than 20 million, servicing more than 30,000 merchants. SKUs include traditional appliances, 3c, supermarket, mother-and-baby care, general merchandise, finance and recreation products offering consumers an abundance of choices.
  3. Services: Offering spectacular service is Suning’s ultimate product goal; complete customer satisfaction is the ultimate standard of service. For years, Suning has been building up its service capabilities in logistics, fund flow and information flow. With the advent of Internet, Suning updated them into logistics cloud, financial cloud and data cloud. Furthermore, Suning has opened up its cloud platforms to facilitate 3rd party integration.
    • Logistics Service in the Cloud: Logistics is a critical component of a retail business operation. Suning has implemented a multi-pronged strategy. First, Suning invested in land early on to establish a nationwide network covering warehouse storage, transport and terminal distribution across China. Second, Suning invested in IT to automate its logistics operations, significantly reducing labor costs, optimizing space and enhancing delivery efficiency. Third, Suning invested to expand its operations, from cross-border e-commerce logistics, to cold chain logistics, aviation logistics, and even rural logistics. Last but not least, Suning has built a strong partner’s network from upstream suppliers to downstream third-party logistics enterprises, consumers and partners.
    • Financial Service: Deploying big data technologies as its IT foundation, Suning Finance has two areas of focus: enterprise loans and consumer finance. Its businesses were developed along the industrial chain. They included third party payment, wealth management(Yu E Bao), consumers finance(Reng Xing Fu), enterprise loans, Internet debit and credit, crowdfunding and insurance selling. Multi-scenario financial services included e-Wallet (Yifubao), Credit Pay, supply chain financing and extended warranties for appliance.
    • Data Service: With more than 20 years of investment, Suning has developed a robust and scalable IT service platform based on cloud and big data technologies. Suning prides itself in its 5,000-people strong professional IT organization across its R&D centers in Silicon Valley, Beijing, Shanghai and Nanjing. These global teams provide essential IT services to its merchants, consumers, partners and suppliers.

Suning Real Estate

Suning Real Estate is a leading operator of intellectual real estate with a specific focus in intellectual development and operation of contemporary urban space. Building upon the operational experience from running commercial retail under the Suning Holdings Group, leveraging global resource and state-of-the art technologies. Suning Real Estate strives to build an integrated supply chain of real estate businesses. Of the hundreds of projects, four notable services related projects include: commercial real estate, residential real estate, culture and travel real estate, and logistics real estate. Three notable operations related projects include: luxurious multi-star hotels, shopping centers, and professional property management.

In joint projects with the world top architectural design companies, Suning Real Estate has developed four notable categories in: Commercial real estate, Residential real estate, Tourism real estate, and Logistics real estate.

  • Commercial real estate: Suning Real Estate Commercial Projects include Suning Plaza, and Suning Smart City. Suning Plaza covers a comprehensive business of Suning Cloud Store, giant shopping center, high star-level hotel, large supermarket, catering, entertainment and grand-A office building. Suning Smart City is a super technological life city covering headquarters, technological office complex, five-star hotel, comprehensive commerce, noble residence and serviced apartment and becoming the intellectual city center.
  • Residential real estate: With the design goals to“construct exquisite residences and usher in luxurious living”, Suning Residential Real Estate focuses in creating lofty and exquisite living spaces with projects like top-ranking villa, noble residences and high-end apartments.
  • Tourism real estate: Suning Real Estate strives to build an exquisite platform that fosters travel, culture and entrepreneur ideas, leisure and vacation, and residence complex. This platform targets primarily high net-worth population especially from Asia.
  • Logistics real estate: Logistics real estate is the modern, automatic and digitized real estate project, which has many comprehensive functions, such as logistics, after-sale service, customer service, office, information, education, and more and will become the platform of service and logistics.
  • Smart Commerce: Smart Commercial Complex---Suning Plaza is built at the core business circle as a city landmark. Suning Plaza exemplifies the seamless integration of customer experience both online and offline. Meanwhile, Suning Plaza has a multi-pronged growth strategy, from shopping and leisure, to entertainment, catering and hotels.
  • Smart Hotel: With the development of commercial real estate, Suning Hotel has developed a series of projects in many core cities of China, including luxurious hotels(Bellagio, Hyatt, Sofitel, etc) high-end conference centers, golf clubs and executive apartments. In the future, Suning hotel will make strategic cooperation with more top-notch hotel management companies to build 100 multi-star hotels. The goal is to become a leading brand of in the Chinese hotel industry.
  • Smart Property: Holding firm to the principle of offering the best property service, Suning Galaxy Property Company focuses on meeting consumers’ demands, including living, leisure, shopping, education, logistics, finance, member service, and more. Suning Galaxy Property Company aims to build a reputation in “passing warmth to every family.”

Suning Cultural and Entertainment Industries

Focusing on culture, education, sports, and health, Suning Cultural and Entertainment Industries has taken on business expansion along multiple fronts:

  • It has a cross-media broadcasting platform PPTV and 5 year exclusive content right of Spanish league La Liga for China.
  • It has acquired Jiangsu Football Club in China Super league to popularize the football game with an eye to raise the level of interests in the sports industries

Suning Investment

Suning Investment has two primary investment platforms. The first platform is to invest in support of five industries. The second platform is to invest in the traditional businesses with a goal to maximize ROI.

Suning Investment strives to leverage these two investment platforms, to lure investors with a theme of “healthy and quality life” theme, ultimately to become a top-notch and well-known investment brand, both inside China and internationally. ( Acquired PPTV, Redbaby, Jiangsu FC, LAOX, etc)

Suning Financial Holdings Group

Suning Financial Holdings Group has built a robust financial products portfolio, including payment account (Yi Fu Bao), investment and wealth management (Yu E Bao), consumer and business loans (Ren Xing Fu), crowdfunding, and more. It also holds a multitude of licenses such as bank license, insurance license, security license and trust license. The Group will offer the most innovative, secure and affordable financial products and services to everyone, both online and offline.

Social responsibility

For over 20 years, Suning has always been committed to being an exemplary corporate citizen and respected brand by contributing to the society through jobs creation, tax payment, social welfare, e-commerce development in the rural areas, and more.

Gallery

  • Suning Plaza.jpg

    Suning Plaza

  • A Suning Cloud Store.jpg

    Suning Cloud Store

  • A Suning Office Building .jpg

    Suning Office Building

  • Suning usa.jpg

    Suning USA Office Building

References

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Further reading

External links

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