Walmart China to open 500 new stores
US retailer Walmart is planning to launch 500 new outlets in China within five to seven years.
The expansion will more than double the firm’s presence in the territory in time for China to emerge as the world’s biggest grocery market come 2023. The move comes in the face of an economic slowdown as China grapples with the US trade war and slow growth.
In spite of the setback, Chinese consumers are still buying from Walmart, which experienced 6.3-per-cent year-on-year growth in the last quarter. Its global growth during the period was just 2.5 per cent.
The firm will also remodel more than 200 of its stores in China in the coming years, including installing self-service checkouts using facial recognition technology.
Related news
90 percent of imported goods from China arrive by air
Medicines, perishable goods, raw materials for production – these are…
Read more >China lifts ban on Argentine poultry imports
China has lifted its ban on poultry imports from Argentina,…
Read more >China’s retail sales skyrocket in the first two months of the year
China’s industrial output grew 5.9 percent year-on-year in the first…
Read more >Related news
The 2024 vintage wines performed excellently at the XXI. Synvino Wine Competition
A total of 400 entries were received from 18 wine…
Read more >What do corporate executives think about art?
Art is Business is organizing an event entitled “Top executives…
Read more >GELATISSIMO 2026: The largest professional meeting of the ice cream industry in Stuttgart
Ice cream lovers and industry representatives are eagerly awaiting the…
Read more >