Yintai Group And Alibaba Accelerate Cooperation To Promote Business Growth

In recent times, intime business has seen a trend of growth, which has greatly improved the group's revenue. The cooperation between Yintai group and Alibaba has accelerated development, thus promoting economic growth more effectively.

In March 22nd,

Business (01833.HK) released the 2015 annual report in Hongkong. In the case of the traditional department store industry's overall retrogression, Yintai commerce went against the trend in 2015, and the same store's overall sales grew by 0.5%. The cooperation with Alibaba group began to fully integrate. CEO Daniel Chan told a press conference in Hongkong that with the upgrading of consumption, China's retail market will continue to flourish and inject huge potential into the market.

Same store sales remain unchanged.

The annual report released by Yintai business shows that the total sales of Yintai commercial stores in 2015 increased by 0.5%, with a total sales volume of 16 billion 760 million yuan, an increase of 6% over the same period, and a retail income of 5 billion 150 million yuan, an increase of 12.3% over the same period last year. The net profit attributable to parent company was 1 billion 320 million yuan, up 17.5% over the same period last year, and the net profit of core business was 800 million yuan, up 6.4% over the same period.

Total assets increased from 27 billion 792 million to 28 billion 278 million yuan, and the stockholders' equity increased from 10 billion 695 million to 11 billion 38 million yuan.

According to the retail business website, according to the performance of 179 shopping malls in the country, the drop in department stores is very common. 87 of the 95 projects with declining performance are department stores, accounting for 92%, while those in these stores drop more than 10%.

That is to say, nearly half of the department stores in the department store with declining performance have seen a sharp decline.

With the overall cold winter of retail department stores, Yintai business has achieved sustainable development.

Daniel Chan disclosed that the sales performance of Yintai commercial in January to February in 2016 was not very ideal, down 2% compared to the same period last year.

However, sales performance has been positive in March, and sales began to grow by 3%, making him confident in the whole year's business.

At present, the consumption structure of urban and rural residents is upgrading from subsistence consumption to development consumption, upgrading from material consumption to service consumption, upgrading from traditional consumption to new consumption, and the trend of this upgrading is more and more obvious, and the speed is faster and faster.

At the Hongkong press conference, Daniel Chan said that with the upgrading of consumption, China's retail market will continue to flourish, inject huge potential into the market, and the future supply chain will also be integrated, bringing great impetus to the development of the company. He is confident of the company's business this year.

In the traditional department store industry has begun to decline, intime business realized the importance of e-commerce to China's retail market. According to the annual report, in 2015, the total retail sales of goods and services reached 3 trillion and 870 billion yuan, with an annual growth rate of 33.3%, of which the total retail sales amounted to 3 trillion and 240 billion yuan on physical goods net, the growth rate was 31.6%, and the retail sales of non physical goods reached 634 billion 900 million yuan, with a growth rate of 42.4%.

The company believes that online to offline (O2O) services in 2015 have been upgraded from the development stage to a business feasible business mode, covering all major cities in China.

In 2015, the strategic cooperation between Yintai business and Alibaba group further integrated the offline and online businesses, and gradually integrated the digital economy with the physical store. The company accelerated the pan channel strategy last year, and launched O2O initiatives such as meow street, meow, West, Italian and meow.

These O2O products have opened up the payment and membership system. In the whole channel, many Internet brands have been introduced into the stores. A series of brand names have been signed in the "peach peaches" project, and the concept of "Yintai Tmall goods" has been launched. At the same time, more online brands have been set up for the collection of goods, in junior and other offline stores.

And in cross-border areas and Tmall international cooperation, the introduction of westbound supermarket, while promoting the selected projects to fight the world's best shops.

In 2016, Yintai business's first online supermarket store opened in Tmall supermarket and first launched the "Yintai Tmall supermarket card".

The card is used in dozens of Yintai department stores and Yintai Tmall supermarket in China, so that the offline IT system can be served online.

In addition, Yintai business and Alibaba also have deep cooperation in the platform. On the one hand, the company has supported online brand selling on Alibaba platform in Yintai physical store, on the other hand, the company has taken measures to encourage Yintai's offline brand to sell on Alibaba platform.

At present, about 46 online brands have been sold in Yintai's physical stores.

In 2016, the company plans to cooperate with more Amoy brands to sell its products in the company's physical stores. At present, there are about 580 brands sold under the Yintai line.

However, at present

It accounts for only about 6% of the income of Yintai, and Daniel Chan expects that this year's share is expected to exceed 10%. At present, China's Internet infrastructure is at the leading level in the world. In the future, it will promote e-commerce products to its peers. The goal is to serve more than 4000 peers across the country.