Walmart China eyes up to 40 new stores
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Walmart Stores says it plans opening between 30 and 40 new stores in China this year.
Included in that number will be up to five new Sam’s Club outlets.
While Walmart achieved a solid performance in its home market last year, its international operations – especially in the UK, are struggling.
In China, Walmart is seeking to develop new retail models to cater to consumers’ changing shopping habits.
Walmart China will invest a further RMB300 million (US$43.4 million) in upgrading and refurbishing about 50 of its existing stores and improving its supply chain operation.
“We will move faster to improve the overall customer experience and continue our strategic alliance with JD.com and to strengthen omni-channel approach,” said Dirk Van den Berghe, president and CEO of Walmart Asia and China.
Last year, Walmart China opened 24 new stores: 21 hypermarkets and 3 Sam’s Club stores.
The company said its average basket size in China increased by 5.4 per cent in the quarter ended January and same-store sales rose 2.3 per cent.
Questions & Answers
Q.How many Sam's Club stores does Walmart plan to open in China this year?
How many Sam's Club stores does Walmart plan to open in China this year?
Walmart aims to open up to five new Sam's Club outlets in China as part of its overall expansion plan. This number is included within the total target of 30 to 40 new stores for the year.
Q.What is the primary reason for Walmart China's new retail model strategy?
What is the primary reason for Walmart China's new retail model strategy?
Walmart China is developing new retail models specifically to address and cater to the evolving shopping habits of consumers in the region. This strategic shift aims to better align with current market demands.
Q.How much is Walmart China investing in its existing stores and supply chain this year?
How much is Walmart China investing in its existing stores and supply chain this year?
Walmart China plans to invest an additional RMB300 million (US$43.4 million) this year. This significant investment is allocated for upgrading and refurbishing approximately 50 of its current stores, and for improving its supply chain operations.
Q.Did Walmart's Chinese operations show positive performance indicators recently?
Did Walmart's Chinese operations show positive performance indicators recently?
Yes, Walmart's Chinese operations saw an increase in average basket size of 5.4 per cent in the quarter ending January. Additionally, same-store sales in China rose by 2.3 per cent during the same period.
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