MissFresh, an innovator and leader in China’s neighborhood retail industry, has recently partnered with Tencent
MissFresh has rich experience in meeting consumer’s demands in China’s first- and second-tier cities. The company works with traditional retailers, especially small- and medium-sized supermarkets to bring fresh groceries and fast-moving consumer goods (FMCG) to customers with Digital tools. Its Retail Cloud platform, which comprises a suite of proprietary SaaS tools, enables these neighborhood retailers to achieve sustainable growth with efficient, optimized digital operations.
The neighborhood retail cloud market for supermarkets has huge growth potential, according to iResearch, which projects it will grow from US $29.5 billion in 2020 to US $292.8 billion in 2025 in terms of gross merchandise value (GMV) at a compound annual growth (CAG) rate of 58.3%.
Recognizing the core technology capability and growth potential of MissFresh, Tencent
Through persistent investment in technology, MissFresh has improved its Retail AI network (RAIN) – a trinity of “Smart Marketing”, “Smart Logistics”, and “Smart Supply Chain”. RAIN offers MissFresh retail partners like small- and medium-sized supermarkets assistance by automatically making decisions in smart merchandizing, smart marketing based on consumer behavior and big data analytics, and smart store operation.
These services in turn allow small- and medium-sized supermarkets to overcome many barriers of entry in the online retail market, expanding their proportion of online business and growing their customer base and gross margins. Such gains will be felt across China’ entire neighborhood retail industry.
“Working hand in glove with Tencent
Founded in 2014, MissFresh Limited was listed on NASDAQ under the symbol “MF” on June 25.
As of the first quarter of 2021, the company has completed several rounds of financing. Investors include Tencent