Suning has signed an agreement with 5i5j, one of China’s leading real estate brokers. The idea? After we bought the house we can add to the shopping chart whatever we need to furnish it!
And if one of the main IT retailers is interested in the housing market? Is what is happening with Suning, mainly known as a retailer in China with online platform, shopping malls and various stores, and has always been an institution in the household appliances market. In fact, Suning is interested in buying and selling houses and apartments.
The news, in particular, comes from the agreement that Suning made with 5i5j, one of China’s leading real estate brokers and the only public company in the sector listed on the country’s A-share market. The project? It’s easy. After that customers had bought the house, they could add to the shopping chart whatever they need to furnish their new apartment. Washing machine, fridges, TV, coach and more, everything available on Suning platform.
Cooperation will apply only to properties listed by Suning Xiaodian. The project is still at the beginning.
Within this cooperation agreement, it is envisaged that the more than 5,000 5i5j apartments will be listed in a Suning subsoil called fang.suning.com and the 5i5j brokers will be placed in Suning.com Xiaodian stores. However, the cooperation will only apply to properties listed by Suning Xiaodian in Nanjing, the capital of Jiangsu province in eastern China.
There is no public information on how many Suning Xiaodian there are in Nanjing, but the company’s latest financial report shows that nationwide, Suning built 930 such stores in the first quarter and owned 5,098 Suning Xiaodian and Diyatiantian stores in total.
Suning: “The real estate brokerage sector is ready for e-commerce!”
Suning.com, as a company that promotes the “new retail”, which seeks to create user-friendly features to integrate online and offline shopping, has launched the sub-website focused on real estate investment in August 2018.
But probably the choice of the Chinese giant is not so far from the digital world and e-commerce. Indeed, Shi Jianjun, general manager of 5i5j Nanjing subsidiary, believes that the real estate brokerage sector should actively embrace Internet commerce.