Yonghui Superstores
Yonghui Superstores
Currently, all sorts of commercial formats under Yonghui have covered more than 20 provinces, radiating over 200 cities across China, with its store entities exceeding 1000 in number, including Red Labeled Stores (called Yonghui Superstores), Green Labeled Stores (named as Bravo YH), Yonghui Life and Super Species etc.
Yonghui’s capacity in terms of profitability is still worth expecting for its composite gross profit rate over the first half of 2018 has increased by nearly 2% year-on-year, which should be mainly attributed to the proportion of its service business rising by 0.9%; accordingly, the gross profit rate gained from its service business has gone up by nearly 6% year-on-year. By managing and controlling fresh food inventory, combing fresh food pricing as well as advancing and implementing strategy of marketing sellers, its store entities elevated the gross profit rate of fresh food. Among its main business products, the gross profit rate generated by fresh food as well as food processing increased the fastest, reaching 15%, up by 1.66%. Focused on the core competitiveness of edible products, Yonghui, with its advanced rivals as targets, has constantly incubated, upgraded and generated small-sized species of business formats; thereby, its gross profit rate in edible products has increased by 0.74%. Owing to the growing number of its newly established store entities and its regular customer flow volume from its already existing stores, its sales revenue has been rising up steadily. By the contemporary time when its stats came out, its operating revenue had exceeded 30 billion CNY over the first half year, proving its stable performance in sales revenue.
On September 4th, 2018, “Yonghui Life Satellite Warehouse”, a commercial platform co-founded by Yonghui and Tencent to cope with home delivery service, made its debut officially in Fuzhou City. The satellite warehouse was another benchmark project launched by the 2 enterprises, under the full propelling impetus from Yonghui Supermarket, Smart Retail Benchmarking Store of Super Species and Smart Retail Tools. It is learned that the satellite warehouse is used for logistics replenishment of goods based on conducting distribution twice a day to guarantee the supply and freshness of fresh food. With the first satellite warehouse put into use in Fuzhou City, the home delivery service developed rapidly as the order peak quantity on one day in June broke through 6000. Within the 3 months thereafter, there were 6 satellite warehouses set up and put into use in Fuzhou City.
When it comes to supply chain, what Yonghui has adopted is the strategy of deepening and integrating the relevant operation. As a traditional chain of supermarket offline, Yonghui possesses a set of well-developed system for manufacture, supply and marketing. With the increasing proportion of its autonomous brands, Yonghui announced in July that its autonomous brands for fruit and vegetables named as “Colorful Food Freshness” would be gradually withdraw from its market, and invested a 300-million-CNY share in Fujian Minwell Industry Co., Ltd and Xiangcun Incorporated in mid-June to build up a healthier and more convenient supply chain system for fresh food. It shows that Yonghui’s autonomous brands have been developed to a deeper extent as well as redefined and repartitioned in accordance with their different categories and sources.
Over the first half of 2018, Yonghui has concentrated its energy on developing its small-scale business formats, among which Super Species, as a new form of innovative format combined with experimental supermarket plus catering, has catered for the young trend and O2O of the consumption demands in the first-tier cities. Moreover, Yonghui has brought out other new business formats such as “Just Easy Just Fresh”, “Super Select”, “Super Lab” and “Yonghui Private Kitchen” in succession. (For more details, see below.)
“Just Easy Just Fresh”
Advent Time: January 2018
Store Entity Area: 7000 square meters
Location: Chongqing City, China
Highlights: Aimed at realizing the service concept of “High-Quality Life and One-Stop Life and Shopping Circle”, the brand “Just Easy Just Fresh” with “Savor, Science & Technology, Humanities and Convenience” as its core developmental mission, is reliant on Yonghui’s advantage of global supply chain, partnership mechanism as well as cutting-edge science and technology to be an “Experience-Based New Retail” applied supermarket combined with online and offline channels.
“Super Select”
Advent Time: February 2018
Location: Foshan City, China
Highlights: Originally as a brand boned with Super Species, the brand “Super Select” mainly processed the food ingredients that were sold in all sorts of workshops such as Salmon and Box Beef into frozen products for sale. Among the workshops, Salmon had 12 SKUs, while Box Beef and Boston Lobster Workshop had 6 SKUs respectively. Upon the holistic upgrade into “Super Select”, the total number of SKU has been increased to about 40.
“Super Lab”
Advent Time: May 2018
Location: Fuzhou City, China
Store Area: 1000 square meters
Highlights: In the near future, there will be 2 separate supportive systems set up to provide training programs for Super Species; one is Yonghui College in charge of training on operation, culture and management, the other is the newly established “Super Lab” in charge of training on products and techniques. Although the 2 supportive systems focus on different aspects, both of them are used to construct the support of manpower for the future development of Super Species.
“Yonghui Private Kitchen”
Advent Time: June 2018
Location: Shanghai City, China
Store Area: About 700 square meters
Highlights: Hatched by Super Species, the brand “Yonghui Private Kitchen”, in terms of positioning, is similar to a one-stop service complex of middle-and-high grade catering oriented to social contacts. To take the brand in Shanghai as example, the store entity comprises 2 parts including front and back halls. The front hall provides the catering services such as coffee and general western food, suitable to the needs such as companies’ teambuilding and personal customization; the back hall provides compound yet multi-functional catering scenes for companies to conduct talent training, new products research and development as well as external study and exchange because there are multiple sets of standard operation stations and the relevant teaching areas, accompanied with the catering services including Chinese food, Japanese cuisine and western food on offering.
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