Suning.com, a Fortune Global 500 company owned by Suning Holdings Group (“Suning”) was listed on the 15th China’s 500 Most Valuable Brands, with a brand value of 23 Billion RMB, ranked No.13 on the list and No.1 among the retail industry.
The list of China’s 500 Most Valuable Brands is released by World Brand Lab, the leading independent consultancy of brand valuation and marketing strategy in the world. It evaluates brand value based on three dimensions: finance performance, customer impression and brand awareness. The total value generated by the 2018 listed brands is RMB 1.844 trillion. Due to its strong growth in revenue and brand awareness, Suning.com has achieved a brand value of RMB 23 billion, up 19% year-on-year.
Suning.com saw a strong financial growth in 2017, obtained an operating revenue of RMB 187 billion, with a year-on-year increase of 24.67%. In the first quarter of 2018, Suning.com has achieved Omni-channel sales of RMB 69.33 billion, up 46.33% year-on-year.
“Innovative technologies such as AI, Big-data and block-chain bring new opportunities to the growth of brand value,” commented by the chairman of World Brand Laboratory and Nobel laureate and economist, Robert Mundell.
Suning put forward its ‘Smart Retail’ strategy in 2017, which revolves around Smart Sourcing, Smart Selling, Smart Services, Smart Logistics and Smart Business Models. The strategy meets and beats consumers’ expectations by providing personalized goods and services in diversified consumption scenarios to improve shopping experience. During the past 6.18 Shopping Festival, Suning gained a 121% sales increase in total, reflecting the increasing brand reputation among customers and embodying the success of Smart Retail.
Meanwhile, Suning has been actively working on corporate social responsibility programs. By the end of 2017, Suning has contributed over RMB 1.1 billion to public welfare regarding disaster relief, education, poverty alleviation, environmental protection and other fields.
“China has entered a new era of quality consumption, which provides a broad market for local brand’s development,” said Sun Weimin, vice chairman of Suning.com, “As a leading retail brand, Suning is proud to be listed among the China’s 500 Most Valuable Brands and will continuously undertake the responsibility to enhance Chinese brands competitiveness.”