Freshippo opens twelve new stores in just a day
The new stores of Alibaba Group's digital intelligence-powered new retail company are spread over eight cities in Mainland China, including Beijing, Shanghai, and Guangzhou. Over half of the new stores are adopting an upgraded Freshippo store image.
Several of these newly launched locations are the first in their respective areas. For example, the store in Joy City in the Huangpu District of Guangzhou is Freshippo's first in the district. The mall is located in the centre of Guangzhou Science City.
In addition to opening new stores, Freshippo will continue to strengthen the development of the entire industry chain, the company said.
In May of this year, Freshippo partnered with chefs, agricultural companies, and universities to augment its pre-cooked food business, selling an average of more than 1,000 types of pre-cooked food per month.
The China Chain Store & Franchise Association indicated that 2023 will be a year of recovery for the domestic consumer market. Many industry analysts predicted that the size of the instant retail market will expand at a compound growth rate of 50% over the next few years. (ben)