Zhang Hongrui is the founder of Xingxinglou Department Store Group Co., Ltd.
Zhang Hongrui was born in April 1946 in Louxi Village, Huanghua Town, Huanghua City, Hebei Province. He is the founder of Xinxinlou Department Store Group Co., Ltd. In 1946, Zhang Hongrui, who was not yet one year old, went to live near Dahutong in Tianjin with his parents who ran a small tailor shop. He returned to Huanghua when he was 6 years old. In 1984, Zhang Hongrui opened a shopping mall of more than 200 square meters with a loan and a dozen employees. He named the shopping mall "Reputation Building".
In 1985, Credit Building implemented the "five trials and one refund" system as soon as it opened; in 1986, Credit Building pioneered the "Sales Credit Card" and has insisted on returning and exchanging goods without reason with the card for 39 years; in 1996, it proposed "Buying and selling with one heart". After nearly 40 years of development, Xinxinlou Department Store has grown from a "small store" with 30 people to 43 stores, 1.2 million square meters of construction area, and approximately 40,000 employees. Its business scope covers Hebei, Shandong, and Tianjin. business group.
Xinxinlou business model:
1. Develop its own brands around “meeting customer needs” and seize the initiative in market competition
Xinxinlou Department Store Group, Actively promote the construction of a retail big data platform, combine the advantages of big data, comprehensively explore user offline and online behaviors, accurately define target customer group characteristics, consumption preferences, geographical distribution, etc., develop products suitable for local consumers, and determine production based on sales , reduce inventory risks, establish an integrated relationship between manufacturers and retailers, and achieve a high degree of integration of production and sales supply chains.
2. Adhere to the principle of "customers and I have equal interests" and establish long-term cooperative relationships with suppliers
Credit Building takes its own interests, supplier interests and consumer interests as the starting point, and upholds the principles in cooperation The business purpose of "taking credibility as the basis and effectively safeguarding the interests of consumers and suppliers" adheres to the principle of "it is beneficial to me, but the customer is not beneficial, then the customer will not exist; if it is beneficial to me, but the customer is small, then the customer will not survive; it is beneficial to the customer." If we are equal, our customers will last for a long time, and we will be profitable for a long time.” The business principle treats suppliers as partners who “seek development”, put themselves in the shoes of suppliers during cooperation, and work with suppliers to seek development.
3. Implement "treat customers as friends" and establish a good relationship of trust between enterprises and consumers
One of the service concepts of Credibility Building is "treat customers as friends" - " We are not selling something, but helping customers buy something, and providing solutions to customers’ problems. “Good products are not simply reflected in their price, quality, etc., but more importantly, whether they are suitable for consumers. Xingxinglou's own brand products are specially designed by Xingxinglou for the target consumer groups. Not only are they of good quality, but they are generally priced 20% to 30% cheaper than similar products.