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Supermarkets In China Lose Market Share To Online Retailers

March 18, 2014: 12:00 AM EST
Supermarkets in China are facing growing competition from online retailers for their business, according to a report by the Communist Party-managed “Beijing Youth Daily” newspaper. According to the report, e-commerce has changed Chinese consumers’ buying behavior, adversely affecting traditional retailers’ business, with at least 80 percent of supermarkets and other retailers reporting higher management costs and declining gross margins. Since 2012, foreign-owned retailers, such as Wal-Mart, Carrefour, and Tesco, have seen sales slowdown, forcing them to close some of their stores. These companies have focused on selling refrigerated and frozen products, which attract customers and offer higher gross margins; however, online retailers are also seeking to expand their presence in this segment.
"Supermarkets fighting losing battle with China's e-commerce", WantChinaTimes.com, March 18, 2014, © WantChinaTimes.com
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