The co-founder of a leading Chinese online retailer has told an audience of European fresh produce companies and software developers of technology’s enormous potential in making the distribution of fresh produce more efficient and more profitable.
Loren Zhao, who co-founded the Shangahai-based web portal and fresh produce import company Fruitday, was speaking at the EU Fresh Info Forum in Rotterdam, an event aimed at highlighting the untapped potential of new technology in the global fresh produce supply chain.
He said his online business was expected to generate sales of US$160m in 2015, boosted by a rapid increase in demand.
“The Chinese e-commerce market is developing very dynamically, thanks in part to a favourable trade policy framework with neighbouring countries,” Zhao explained.
Asked if Fruitday had any plans to venture into the European market, he declined to rule it out but suggested growth in the Chinese market would keep his company more than occupied for the time being.
“We plan to continue basing our expansion primarily on the Chinese market. The local potential is in fact very, very large.”
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