7. Jiajiayue
Base: Shandong
Revenue: RMB 27.9 billion (US$4.4 billion)
Number of stores: 868
Based in coastal Shandong of eastern China, Jiajiayue is one of the most ambitious fresh produce retailers expanding into the third- and fourth-tier cities in China’s rural market.
In 2020, Jiajiayue’s store coverage expanded rapidly by 16.4% to 868 stores during the pandemic and recorded a revenue growth of 9.3% to RMB 27.9 billion (US$4.4 billion).
Jiajiayue Group opened its first supermarket in 1995 and took the lead to sell fresh produce in domestic supermarkets. Now it runs three formats of retail stores – hypermart, rural stores and fresh stores.
Utilising its broad logistics and supply chains, Jiajiayue also runs home appliance stores, mothercare product malls, department stores and convenience stores. Now its retail network spans across six provinces including Shandong, Hebei, Anhui, Inner Mongolia and Jiangsu.
In 2021, Jiajiayue opened its first membership-based wholesale warehouse in Jinan, capital of Shandong and its first supermarket in Beijing. Its new store in China’s capital Beijing is seen as a move to expand its market reach into the country’s more affluent first-tier cities.
