$550 $m
In 2012, Suning’s sales volume reached CNY $194.7 billion (USD $31 billion) and continued to lead the Chinese retail market for the third consecutive year. This year, Suning came out with several business development strategies. The acquisition of two online retailers—Redbaby, which focuses on mother and baby products, and Binggo, which sells cosmetics and food products— indicates its multi-category expansion strategy. Its new retail outlet, Suning EXPO, provides various product categories, smart service and a fresh shopping experience. This new business symbolizes Suning’s transition to technology and service in the coming years. In July, however, the price war between Suning and 360buy.com pushed Suning to focus on low prices, diluting its investment in brand building.