Business & Economy · 2 views
‘My boss is the Chinese customer’: Walmart China CEO Christina Zhu on how the Fortune 500 company is thriving in a tough retail market
Although many Western brands, including Starbucks and Lululemon, have struggled in China, Walmart has continued to deepen its footprint.
Summary
When U.S. supermarket chain Walmart opened its first Chinese outlet in Shenzhen in 1996—five years before China joined the World Trade Organization—the retail landscape in the country looked vastly different. With no large-scale hypermarts, shoppers rose at dawn to snag the freshest produce at local wet markets.
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