Business Intelligence on Retailing, Franchising, and Consumerism in China

Gome To Create New Relations With Suppliers

Home appliance retailer Gome has announced a new cooperation with TCL Group and plans to offer a new way of dealing with suppliers in which it will offer a "payment first, goods later" service.

Gome probably took this measure to compete with Best Buy, another home appliance retailer who first initiated the system of paying suppliers upfront in China.

Guang Guangyu, general manager of Gome, says that Gome will gradually solve the charging problems that have bothered the suppliers for a long time. He says that Gome will take the measure of paying before introducing goods to speed up the return of funds and create a new relationship with suppliers which will benefit all parties.

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