Wal-Mart will continue to expand its business in China
2013-10-28 09:56:17
Wal-Mart plans additional 110 stores between 2014 and 2016 and the strengthening of its e-commerce business.
After the announcement of the closures of 20 to 30 the least profitable stores, Wal-Mart plans to increase its presence in China. In a press conference in Beijing, officials of Wal-Mart China announced the opening of 110 stores between 2014 and 2016, in addition to the 30 already opened this year.
The company is in a process of rationalization and wants to take advantage of changes in the sector of ??retail sales in China. Annual sales growth slows down but Chinese consumers are turning more and more towards online shopping. The e-commerce business of Wal-Mart rose 30% in the first half of the year.
Last year, Wal-Mart took the control of Yihaodian, Chinese online store, which boasts 24 million users and provides same day delivery to its customers. Wal-Mart operates more than 400 hypermarkets and supermarkets, Sam's Club stores in 160 Chinese cities.