In the United States, Walmart Stores’ members-only Sam’s Club warehouse chain offers a wide range of products from bulk groceries to patio furniture at discounted prices in cavernous, no-frills stores, where goods are stacked on metal shelves. Walmart is doing the same thing in China but with some pricey twists, including $3,200 rice cookers and $295,000 diamond rings…Full Article: China Daily Nov 2016
- As of November 2016, Walmart had 14 Sam’s Clubs in China, with its Shenzhen store being its best-performing branch worldwide. Sam’s Club China has 1.8 million members and has an annual growth rate of 10% to 12%.
- In November 2016, Walmart opened 5 new stores including in Shanxi, Hunan, Yunnan, and Tianjin. In total, both Changsha (Hunan Province) and Tianjin have 4 stores, while Kunming (Yunnan Province) has 12 stores.
- In October 2016, Walmart’s share in JD.com rose from 5.9% to 10.8%.
- In July 2016, Walmart announced plans to open 115 stores (including some Sam’s Club stores) in China by 2017. During the same month, it was reported that executives from both Walmart and JD.com meet weekly to discuss their retail strategy in mainland China.
- In June 2016, Walmart sold Yihaodian (e-commerce grocery website) to JD.com in exchange for a 5% stake in JD.com. As part of the deal, JD.com (backed by Tencent Holdings) will open an online store for Walmart’s Sam Club. Both companies will also cooperate on logistics (supply chain and delivery services).
- As of early 2016, Walmart had developed three brands in China including its hypermarket series (420 stores), Sam’s Club stores (12), and the e-commerce site Yihaodian (~130 million registered users).
- In 1996, Walmart opened its first store in Shenzhen, southern China.
Hong Kong Trends