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High-tech supermarket chain Freshippo’s value-for-money Global Go business recorded over 100% growth in its gross merchandise value year-on-year, the company announced on Tuesday.
Chinese consumers have a strong appetite for high-quality food, and natural ingredients and flavor rank among shoppers’ biggest buying considerations, according to McKinsey’s 2023 China Consumer Survey.
But they are also increasingly price sensitive, Kantar data shows.
Enter Global Go. The platform leverages direct partnerships with upstream suppliers around the world to offer globally sourced grocery items at reasonable prices.
“By pioneering a new model for cross-border shopping, Freshippo Global Go creates a win-win situation for all,” said Melody Jia, General Manager of International Business at Freshippo, in a statement.
In addition to serving consumers, Global Go is also well-placed to guide international grocery brands in the Chinese market.
“For overseas brands, Global Go provides a platform where they can target high-quality consumers, thereby facilitating more precise and efficient sales conversions,” said Jia.
Freshippo plans to launch Global Go in-person shopping experiences at 66 Freshippo stores across China, giving consumers the opportunity to try items and receive personalized product recommendations.
The company also signaled its intention to create a Global Go brand in collaboration with “reputable companies, factories, raw material suppliers and patent holders,” according to a press release.
At last count, Freshippo operates over 360 stores in 28 Chinese cities.
The chain embarked on an expansion drive last year and averaged one store opening per day during the month of September.
