Walmart is flying so high on the strength of its Chinese operations that it has exited a long-time local partnership, an outlier in a consumer landscape that is increasingly hostile to foreign brands.
As other Western consumer giants exit China or lose market share to local rivals, the US retailer remains its biggest hypermarket operator. That is thanks in large part to Sam's Club, which in the country is a members-only chain offering premium goods.
The franchise is continuing to drive double-digit sales growth, Walmart executives said on an earnings call in August, and half of all China sales are digital.
The booming demand for Sam's Club made it possible for Walmart to build its own e-commerce app, a rarity in China, where major Western retailers mostly rely on local platforms like Alibaba Group Holding's Taobao and Tmall.
The number of e-commerce orders being delivered within one hour rose 28 per cent in the last quarter, to 59 million, Walmart said.
Bu hikaye The Straits Times dergisinin August 23, 2024 sayısından alınmıştır.
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Bu hikaye The Straits Times dergisinin August 23, 2024 sayısından alınmıştır.
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