Zhang Jindong: leans forward, intense
inquires about erm...Zhang Jindong, what was our first breakthrough product?
Our first breakthrough came with the launch of our air conditioning products in the summer of 1991. The market was flooded with low-quality and untrustworthy options back then. But we offered superior quality, efficiency, and reliability that no one else could match. It was a game-changer.
so did we expand our product range quickly afterwards?
smirks You bet we did! We knew if we rested on our laurels, someone else would snatch our spot. So, we expanded our product range rapidly, getting into electronics, home appliances, and even consumer goods.
so that's when we went public...
leans back, crossing his arms Yep, you got it. We went public in 1992, just a year after our first breakthrough.
nice, so now we have tons of capital to further expand our brand globally
laughs You're catching on fast, Roadham! Indeed, going public gave us the injection of capital we needed to take our brand global.
so we opened our first overseas office in Singapore in 1994
stands up, pacing Yes, you're right again! Singapore was a strategic hub for us, giving us easy access to Southeast Asia and beyond.
next question, when did we enter the e-commerce sector?
pauses, thinking Well, we saw the potential in e-commerce as early as 2000.
so we didn't wait for our competitors and took the lead in entering this new promising sector
raises his voice Damn straight we didn't wait! We saw the potential and seized it right away.
so with our online sales booming, we expanded into logistics and delivery in 2005
With our online sales growing rapidly, we faced logistical challenges that hindered our ability to provide fast and efficient delivery. To address this, we expanded into the logistics and delivery sector, investing heavily in building our own network of warehouses and delivery routes. This allowed us to better manage the complexities of shipping products to customers, reducing costs and improving efficiency.
so, our market share and sales continued to grow. We became more interested in financials and introduced our first credit card in 2010
leans forward, animated You know what, Roadham? The success of our credit card was no surprise. We were already players in the financial game.
so we followed up with our own payment system in 2013
claps hands Absolutely! Our payment system was designed to be faster, more secure, and more efficient than the traditional methods.
then we entered real estate in 2015
stands up, excitedly Real estate! Now we're talking! This was a whole new frontier for us, but I saw the potential for massive growth.
we built our first shopping mall in 2018
paces back and forth, animated The shopping mall was a game-changer! It gave us a physical presence in the market, putting our brand front and center.
today, suning holds over 80% domestic market share and 10% worldwide share
raises a glass, triumphant Cheers to that, Roadham! We've come a long way, haven't we? From a small air-conditioning store to a retail giant with a footprint around the globe. It's been quite a journey.
we both take a sip of champagne
puts down his glass, serious But we can't rest on our laurels, Roadham. The market is constantly evolving, and we need to stay ahead of the curve.