Carrefour SA, the world’s second-largest retailer by revenue, is expected to open 15 new hypermarkets in China this year and roll out more “convenience stores” aimed at customers in local communities, according to the company’s top executive in the country. Thierry Garnier, executive director of Carrefour China, said in Shanghai on Thursday [5 March 2015] that its latest multi-format strategy, which also includes an expansion of its e-commerce business and a new operational structure, is being created in an effort to regain ground in a market that had been affected by what he called a “frugal consumption environment”…Full Article: China Daily March 2015

Key Points

  • In 2014, Carrefour opened 11 new hypermarkets in China, but closed eight. The company also intends to renovate 75 hypermarkets in the future.
  • Carrefour is currently testing its “Carrefour Express” convenience store concept in Shanghai.

ChinaAg Comments

  • In December 2013, Carrefour had 236 hypermarkets in 73 cities in mainland China and hoped to have stores in 100 cities by 2016.
  • In 2012, Carrefour was the 4th largest (6.9% market share) hypermarket chain in China.
  • Sun Art Retail Group Ltd. was the leader with a 13.6% market share. Sun Art Retail Group, a JV between Taiwan’s Ruentex Group and French retailer Groupe Auchan, overtook Wal Mart in 2010 and had 273 hypermarkets in China at the end of 2012.

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