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Nov 12, 2020 08:15 am ·

China's E-Commerce Giants Announce Record Sales on Singles' Day 2020

The turnover on Alibaba's e-commerce platform Tmall, in the first 30 minutes of 2020's 'Singles' Day' shopping holiday (November 11) exceeded CNY 372.3 billion, surpassing the 2019 figure. After 35 minutes on November 11, Tmall had more than 300 brands with transaction volumes that broke 100 million. Meanwhile, Apple, Huawei, Midea Haier and other brands exceeded CNY 1 billion. As of 12 AM on November 12, the whole-day turnover of Tmall reached CNY 498.2 billion, an increase of 85.62% compared with 2019's CNY 268.4 billion. The Taobao nemesis JD.com (JD:NASDAQ) announced that, as of 0:09 AM on November 11, the cumulative amount of orders had exceeded CNY 200 billion. The final turnover of JD.com on this year's Single's Day reached CNY 271.5 billion. Private retailer Suning.com (002024:SZ) also made great progress this time, with the online sales growing by 75% between November 1 and November 11. Pinduoduo (PDD:NASDAQ), one of the hottest Chinese stocks this year, has decided not to announce its sales data. The firm's officials said they focus more on whether their consumers enjoy the shopping process than transaction data. Above all, the Single's Day festival this year is about more than surprising figures. From businesses to consumers, from foreign factories to fields, from live broadcast ecology to logistics systems, from offline commerce to technical support, from home to overseas, people are feeling the heat and power of consumption under the special background of COVID-19, which is adding more layers of meaning to this year's Single's Day.

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Nov 4, 2020 02:09 pm · Information Times

Dada Break Its Record of Daily Order

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News EO
Oct 31, 2020 04:00 pm ·

Suning.com: Net Profit Plummets 92.69% YoY in 3Q 2020

On October 30, Suning.com released the report for the third quarter of 2020, showing that in the first three quarters, revenue was CNY 180.86 billion, a year-on-year decrease of 10.02%; net profit attributable to shareholders of listed companies was CNY 547 million, a year-on-year decrease of 95.40%. The third-quarter revenue was CNY 62.44 billion, a year-on-year decrease of 4.58%; the net profit was CNY 714 million, a year-on-year decrease of 92.69%. The company stated that the sharp drop in net profit was that the investment income brought by Suning Xiaodian and Suning Financial Services during the same period last year was excluded from financial reports. The online commodity transaction volume reached CNY 202.55 billion (tax included), increasing 18.15% year-on-year, accounting for 69% of the total scale. And, the proportion of non-electrical goods merchants increased to 89.46%. In terms of store layout, Suning retail cloud opened 2,432 franchised stores and closed 674 direct-operated stores in the first three quarters. There are 2,697 self-operated stores of various types and 6,588 Suning Retail Cloud franchised stores. The sales volume of Retail Cloud has increased by 77.5% year-on-year. In the first three quarters, the maternal and child specialty stores Redbaby opened 8 new stores and closed 38 stores; in the third quarter, it opened 5 new stores and closed 6 stores. From January to September 2020, comparable stores' sales revenue (referring to stores opened on or before January 1, 2019) decreased by 16.78% year-on-year. In the first three quarters, 27 new home appliance 3C home life specialty stores opened and 241 closed. Among them, in the third quarter, 13 new stores opened and 28 closed. In the first three quarters, the offline retail sales revenue in comparable stores decreased by 28.81% year-on-year. In the first three quarters, it opened 4 new Carrefour hypermarkets, one community fresh food store. Eight Su Xiansheng supermarkets were incorporated into Carrefour China for unified operation, and 11 Carrefour supermarkets closed. In the third quarter, three Carrefour hypermarkets opened, nine closed, and one new community fresh food store opened. Besides, Carrefour's home delivery business orders increased by 10% from the previous quarter. In terms of logistics and warehousing network construction, five logistics bases were delivered and used, eight logistics bases were newly added or expanded. And, it delisted the logistics bases in eight cities including Nanjing, Suzhou, Xi'an and Kunming. As of September 2020, the company has 62 logistics bases in 46 cities, and 21 logistics bases are under construction and expansion in 18 cities. Also, home appliances logistics has developed rapidly, with its services cover 331 cities, of which the fourth- and sixth-tier markets account for 30%.

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