Friday, 25 May 2012

Leading Global Electrical and Electronics Retailers – Company Benchmarking Analysis Report

London, May 25th, 2012 – In 2010, Suning recorded the highest store count growth among its peer group, at 39.3%. It was followed by Yamada Denki, with 38.1%, and Bic Camera, with 17.2%. Suning’s store count growth was over three times the peer average of 11.2%, and was attributable to new store openings. During 2010, Suning expanded into 31 new Chinese cities, opened 396 new stores, and closed or replaced 26 stores. As a result, the company’s store count increased from 941 in 2009 to 1,311 in 2010. Suning primarily opened new stores in order to take advantage of favourable economic conditions and increasing consumer spending (see graph below).

Yamada Denki recorded the best performance among the leading global electrical and electronics retailers. This strong performance was driven by the high scores it received for scale of operations, operational efficiency, and financial performance. Under the scale and growth pillar, Suning was the best performer, a strong performance primarily attributable to the high scores it received in revenue, revenue growth, retail floor space, growth in floor area, growth in store count, and growth in employee count.

Bic Camera received the second-highest score under the operational efficiency pillar. The company’s strong performance was driven by the high scores it received in inventory turnover, sales per square meter, operating profit per square meter, and sales per employee. Dixons was the third largest retail chain in the peer group, based on revenue, in 2010. During the year, the company recorded revenues of US$13,126.9 million. The firm’s strong revenue base can be attributed to its widespread store network.

Suning’s strong sales growth, which was almost four times the growth of the Chinese economy, was primarily attributable to new store openings. The company’s total store count increased from 941 in 2009 to 1,311 in 2010, following the addition of 370 net new stores.

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