Traditional retailers are focusing on online business! Six Shandong companies are shortlisted as China's top 100 online retailers
2024-08-12
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Recently, the China Chain Store & Franchise Association released the "Top 100 Chinese Online Retailers in 2024". This list is based on the survey results of the development of China's online retail industry in 2024 conducted by the China Chain Store & Franchise Association, with reference to the annual report data of relevant listed companies, and professional estimates in cooperation with Deloitte. The results are statistically collated according to the online sales revenue of online self-operated retail in 2023.
A reporter from Economic Herald sorted out the list and noticed that six companies from Shandong were shortlisted, namely: Haier Smart Home Co., Ltd., Ginza Group Co., Ltd., Jiajiayue Holdings Group Co., Ltd., Yantai Zhenhua Commercial Group Co., Ltd., Shandong Weifang Department Store Group Co., Ltd., and Liqun Group Co., Ltd.
It is worth noting that in recent years, with the accelerated integration of online and offline channels, many local retail companies in Shandong have also been actively responding to market competition, accelerating operational adjustments, and further expanding online business models.
According to the Economic Herald reporter's review of the "2023 China Online Retail Top 100" list, last year, four Shandong companies were on the list, namely Haier Smart Home Co., Ltd. ranked 6th, Ginza Group Co., Ltd. ranked 57th, Liqun Group Co., Ltd. ranked 85th, and Shandong Weifang Department Store Group Co., Ltd. ranked 87th. In this year's list, the number of Shandong companies on the list increased to 6, which also reflects the steady development of Shandong's local retail companies in the online retail market.
Build a "business ecosystem" that combines online and offline
Among these Shandong companies on the list, Haier Smart Home Co., Ltd. ranked first, ranking 8th. Its online sales in 2023 reached 71.426 billion yuan, making it the highest-ranked company in Shandong on the list, showing its significant advantages in the online retail market.
The notes of the list pointed out that Haier Smart Home's data comes from the Wind database, and the annual data is obtained by summarizing the monthly online sales data from January to December 2023. Wind's online sales data comes directly from the daily sales of flagship stores and direct stores opened by listed companies on online e-commerce platforms such as Tmall and JD.com.
Ginza Group Co., Ltd. ranked 50th on the list, with online sales of 2.184 billion yuan in 2023. As an established retail company, Ginza has also been vigorously developing its online marketing business in recent years.
The Economic Herald reporter checked the 2023 annual report of Yinza Co., Ltd. and found that it has accurately sorted out the four business lines of department stores, supermarkets, online and group purchases, and achieved relatively independent operation of department lines. Yinza Co., Ltd. also mentioned that it will accelerate the development of digital transformation, including building an online and offline "business ecosystem" through the online mall model, corporate welfare purchases, and community group purchase functions with the help of the Yinza cloud shopping platform. Aggregate multi-channel and multi-brand resources, make full use of distribution, live broadcast, full reduction, flash sales and other marketing activities, carry out omni-channel marketing, and online sales increased by 62.53% year-on-year.
Ginza Co., Ltd. stated that in 2024 it will increase the promotion and implementation of the online mall model, introduce more low-discount, high-quality online products, and enrich online product resources; at the same time, it will continue to expand new marketing channels, explore the application of new tools such as smart live broadcast and digital human live broadcast, and accelerate the pace of innovation.
In this list, Jiajiayue Holding Group Co., Ltd. ranked 68th with online sales of 935 million yuan in 2023.
The Economic Herald reporter noted that Jiajiayue's 2023 annual report mentioned that it continued to strengthen the integration of online and offline, and promoted the store-to-home business in a coordinated manner. Online sales increased by 23.9%, driving 3.06 million offline store traffic, and the store conversion rate reached 35%. At the end of the reporting period, the supermarket's online business sales accounted for 5.98%.
Jiajiayue's main business is supermarket chain operation. In the above annual report, it stated that in response to changes in consumer demand, the company relied on the dense chain store network, used the Jiajiayue Youxian platform and third-party platforms, built an omni-channel collaborative platform that integrates online and offline interactions, and carried out online businesses such as home delivery, store pickup, live broadcast, community group purchase, and cloud supermarkets. Online orders and sales continued to grow rapidly, and the online business maintained low-cost operation and good profitability.
In addition, Yantai Zhenhua Commercial Group Co., Ltd. ranked 78th with online sales of 821 million yuan; Shandong Weifang Department Store Group Co., Ltd. ranked 82nd with online sales of 698 million yuan; Liqun Group Co., Ltd. ranked 91st with online sales of 547 million yuan in 2023.
It is understood that the online sales of retail companies in the list only calculate the sales of self-operated goods in online channels (including the sales of the company's self-operated flagship stores on third-party platforms).
JD.com, Alibaba and Vipshop ranked the top three
Overall, the report of the China Chain Store & Franchise Association shows that in 2024, the total online sales volume of China's top 100 online retail companies will be 1.91 trillion yuan, an increase of 2.7% over the previous year.
The list includes 8 e-commerce companies, 47 physical retail companies, and 45 consumer goods companies. The top three companies are JD.com, Alibaba, and Vipshop, with online sales of over 100 billion yuan each, up 0.7%, 6.4%, and 8.6% year-on-year, respectively.
In terms of growth rate and growth, 65 of the top 100 companies achieved positive growth in online sales, of which 38 achieved double-digit growth or above (2 e-commerce companies, 19 physical retail companies, and 17 consumer goods companies). At the same time, the online sales growth of e-commerce, physical retail and consumer goods companies was relatively balanced, with the online sales of the three parts increasing by more than 60% year-on-year.
In terms of online sales scale, among the top 100 companies, 3 have online sales scales of 100 billion yuan, 16 have online sales scales of 10 billion yuan, 45 have online sales scales of 1 billion yuan, and 36 have online sales scales of 100 million yuan.
The China Chain Store & Franchise Association also stressed that the accelerated integration of online and offline channels in the retail consumer market and the continuous innovation of business models have become the key driving force for promoting consumption growth. (Economic Herald reporter Sun Luonan)
