Sunning Yigou, the online arm of China’s largest home appliances retailer, on Thursday signed a contract with more than 1,000 suppliers to increase its product inventory as it strives for a bigger share in the online retail sector.
Yigou said it expects its online sales to grow 10 times to CNY300 billion (USD47.6b) by 2020. Its online retail revenue is estimated at about CNY30b this year.
Yigou will allow its suppliers, including dealers of apparels, books and other consumer goods, to open stores on Suning.com and use Yigou’s existing delivery and payment systems to save costs.
(Source: Shanghai Daily )