Walmart China opening 500 more stores
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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 percent.
“We will continue to collaborate with partners and policymakers in China to accelerate our expansion,” Walmart China senior VP James Ku said.
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.
Walmart China has operated for more than 20 years.
Questions & Answers
Q.How many stores does Walmart currently operate in China before this expansion plan?
How many stores does Walmart currently operate in China before this expansion plan?
The article states Walmart plans to launch 500 new outlets, which will more than double its presence. This implies its current number of stores is fewer than 500 but an exact figure is not provided in the text.
Q.What is the reason for Walmart's continued investment and expansion in China?
What is the reason for Walmart's continued investment and expansion in China?
Walmart is expanding in China because Chinese consumers are still buying from the retailer, which experienced 6.3 per cent year-on-year growth in the last quarter. This growth outpaced its global growth during the same period.
Q.What improvements are planned for Walmart's existing stores in China?
What improvements are planned for Walmart's existing stores in China?
Walmart intends to remodel more than 200 of its current stores in China over the coming years. These improvements will include installing self-service checkouts that utilise facial recognition technology.
Q.When is China expected to become the world's largest grocery market?
When is China expected to become the world's largest grocery market?
China is anticipated to emerge as the world's biggest grocery market by 2023. This timeline coincides with Walmart's expansion plans to significantly increase its presence in the territory.
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