Yonghui posts 21.5% growth in revenue in first half

Date : 01 August 2018

Yonghui has achieved total revenue of CNY34.3bn (US$5bn), an increase of 21.5% in the first half of 2018.

Store expansion driving growth

Yonghui continues to report robust results despite increasing challenges raised by online rivals. Network expansion and format development are major drivers of growth for the retailer, as it continues to expand its network across China.

Yonghui is mainly focusing on smaller-format stores, opening Yonghui Life convenience stores that operate approx. 100 sq m. However, the retailer has also been expanding its premium supermarket banner, Bravo YH, opening 52 new stores so far this year.

Yonghui Life App to cover all stores

To boost offline and online integration, the retailer will look to make its Yonghui Life App available at all its stores. This will allow more shoppers to purchase online and have their purchases delivered in 30 minutes if they live within a 3km radius from a store.

Aggressive plans to grow further

Earlier in the year, Yonghui announced plans to open 135 Bravo stores, 100 Super Species and 1,000 Yonghui Life stores throughout 2018.

 

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