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Metro expands into convenience store market in China
Online Edition
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 yesterday.
"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.
Metro Cary & Cash's convenience stores will also serve as the delivery points for its orders on its online shopping site in the future.
Currently, the retailer's online business covers altogether 82 outlets in 57 domestic cities.
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