"The online fresh produce market is huge," said Wang Jun, partner and CFO of Miss Fresh. "So huge its sales will exceed more than 1 trillion yuan in the next five to seven years. To better cater to users' diversified and specific demands, we will accelerate the push to expand offerings and continue to upgrade our front-end warehouses."
Front-end warehouses, which are located close to shoppers' communities and neighborhoods, form the final transition point before fresh produce is delivered to consumers. They are one of the key competencies of Miss Fresh.
With more than 1,500 front-end warehouses in nearly 20 cities around the country, the platform is able to offer its members a one-hour delivery service. With more than 300 buyers, Miss Fresh's supply covers over 30 countries and regions, with 80 percent of products coming directly from producers and factories.
Based on its current fresh produce offerings, Miss Fresh aims to further expand its offering to cover more categories and become an online supermarket.
"Currently, our gross profit margin is more than 10 percent, which can cover costs. And a mature supermarket's gross profit margin will be more than 20 percent," Wang said.
