With an increasing number of Chinese consumers shopping online, sales at hypermarkets in the world’s second-largest economy are on a downward spiral. Photo: Bloomberg
Hypermarket stores in China closing at a rapid clip as consumers shift spending online
- Hypermarket sales have declined at an annualised pace of 7 per cent over the past three years, compared with a 24 per cent growth in e-commerce sales
- Walmart closed more than 80 stores from 2016 to 2020, and had only 34 left at the end of September
With an increasing number of Chinese consumers shopping online, sales at hypermarkets in the world’s second-largest economy are on a downward spiral. Photo: Bloomberg
