FreshMarket

About FreshMarket

Established in October 2012, FreshMarket, known in China as Shihang Shengxian (食行生鲜), operates as a digital fresh food new retail enterprise headquartered in Suzhou. The company was founded by CEO Zhang Hongliang, along with co-founders Sun Chao and Fang Chunqi. FreshMarket has pioneered a unique business model that integrates online pre-orders with a network of self-service refrigerated pickup cabinets located in residential communities. This "order online, pick up from cabinet" approach effectively resolves the high-cost and last-mile delivery challenges that have historically plagued the fresh grocery e-commerce sector.

The business model is centered on a "pre-order + full cold chain + refrigerated cabinet self-pickup" system. Customers place orders through various channels, including the company's website (34580.com), mobile app, or other terminals. The produce is sourced directly from farms and transported via a cold chain to the community-based smart refrigerated lockers for customer retrieval. This process allows the company to achieve zero inventory, significantly reducing waste and operational costs. Revenue is generated from the sale of a wide array of grocery items, including vegetables, fruits, meat, and seafood, to both individual consumers (ToC) and corporate clients (ToB). In 2020, the company expanded its strategy by opening physical brand-name fresh food stores, further blending its online and offline presence.

As of 2019, FreshMarket's services were available in over 3,000 community sites across Suzhou, Shanghai, and Wuxi, serving 3.3 million households. The company has reported achieving sustained profitability since 2019. A significant milestone was the completion of a RMB 250 million C++ funding round in August 2019, demonstrating strong investor confidence in its scalable and efficient operating model.