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
Temu has withdrawn from its aggressive marketing strategy
In recent months, significant changes have taken place in the…
Read more >In China, consumer prices rose less than expected in March
Consumer prices in China increased by 0.1 percent in March…
Read more >Aldi US doubles down on EDLP price promise
Aldi Süd in the USA highlights the low-price appeal of…
Read more >Related news
The “Promotion of the Year 2024” awards were presented
This year, the “Promotion of the Year 2024” competition was…
Read more >More than one hundred and thirty entries were received for the Pálinka-based Bonbon of the Year 2024 competition
One hundred and thirty-three entries were received for the Pálinka…
Read more >The Hungarian Logistics Association (MLE) and Budapest Metropolitan University (METU) celebrate Logistics Day at a joint professional conference
Today is Logistics Day. In this case, people interested in…
Read more >