Chinese electronics retailer Suning has announced plans to issue CNY50 million worth of consumer cards in Beijing in a one-week period starting from March 2, 2009.
A representative from Suning Beijing told local media that the company will issue 500,000 consumer cards with CNY100 face values. Consumers, with their identification cards, can get these consumer cards for free at any of the 50 chain stores of Suning in Beijing, but each consumer can only apply for one card. When buying products with prices of more than CNY1,000, consumers can use these cards to gain a CNY100 discount, and only one such card can be used for one product.
The representative said these consumer cards can not only be used in the stores of Suning, but also can be used in the stores of Suning's cooperative partners such as Orient Home. In addition, Suning Beijing will discuss with its headquarters to reduce the limitations on these consumer cards to offer more benefits to consumers.
Fan Zhijun, executive president for Suning North China, said the CNY50 million consumer cards are expected to stimulate at least CNY5 billion in market demand in the entire industry chain of construction materials, home decorations, and home appliances.