Retail in Asia

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Tesco to outshine global competitors on China plans

Tesco will grow faster than the other Big Four global supermarkets in the next three years as it pushes ahead in the key battleground of China, according to a leading European research firm.

The supermarket’s aggressive plans to nearly double its number of hypermarkets on China’s mainland to 196 stores by 2015 will help it to grow 6.8 percent a year between 2011 and 2015, compared with 5 percent at Metro, 4.85 percent at Wal-Mart and 4.21 percent at Carrefour, grocery market specialist IGD said.

While Tesco has endured a troubled year in its home market of the UK and its Fresh & Easy brand has struggled to gain ground in the US, emerging markets including Turkey, China and India have boosted growth.

(Source: Shanghai Daily )