In Markets

China’s homegrown retailers are catching up with MNCs, overseas counterparts

China’s homegrown retailers and manufacturers made progress against their overseas counterparts and are closing the gap between multinational companies’ market positions, a recent study shows.

In China, RT-Mart improved its ranking in the past year and exceeded Walmart to become the top retailer in terms of their composite performance while becomes the first online retailer in the top 10, jumping from 11th position in a year ago to the seventh in 2015, retail consultancy Kantar Retail said in a research released on 29 March.

The annual study was conducted among more than 430 management level executives at hypermarket, supermarket, convenience and personal care retailers. Walmart retreated to the second position, followed by CRV, Yonghui and Carrefour.

(Source: Shanghai Daily )

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