Revenue of Suning.com 2013-2023
In 2023, the revenue of Suning.com Co., Ltd. decreased to 62.6 billion yuan from approximately 71.4 billion yuan in the previous year. Suning.com has accelerated the adjustment of loss-making stores and non-strategic businesses in 2021, closing all Redbaby maternal and Infant stores.
The evolution of Suning.com
Founded in 1990 as an air-conditioner retailer, Suning established its empire in household appliance and consumer electronics in the following two decades. By 2012, the company owned over 1,700 retail outlets and became one of China's largest home appliance retailers. Since 2012, the company has gone through another transition in the face of the challenges of e-commerce by launching its online retail platform. Nowadays, Suning.com ranked fourth among all online retailers in China, following Alibaba, JD.com, and Vipshop.
Suning's offline retail
Apart from e-commerce, Suning has expanded its business focus from electronics to general merchandise. In 2022, Suning.com recorded a total of 1,641 physical stores in Greater China, ranging from shopping plazas to supermarkets. Apart from the traditional in-store retail, the company has actively built up its own supply chain and on-demand delivery service to facilitate its offline retail.
