Retail in Asia

In Trends

Metro expands into convenience store market in China

Metro Cash & Carry said it will expand into the convenience store under the brand MyMart with two stores initially set to open in Shanghai next month.

“The convenience store market in China is very attractive but still quite immature,” president of Metro Cash & Carry China Jeroen de Groot told a press briefing on Thursday.

“We would like to expedite our franchise businesses by looking at reliable and experienced partners in Shanghai as well as other cities to accelerate the growth,” he added, without releasing the expansion plan.  Consumer goods sales through convenience stores recorded nationwide growth of 13.1 percent annually in 2015, research firm Kantar Worldpanel said in a report, outgrowing other retail channels such as supermarket chains.

(Source: Shanghai Daily)