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March 5, 2019

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Technology fires Carrefour’s China profit

By Ding Yining | 00:08 UTC+8 March 5, 2019 | Print Edition

French retail giant Carrefour said its Chinese mainland and Taiwan operations recorded an 11-fold jump in profit in 2018, with digital technologies boosting operational efficiency.

Operating income, or earnings before interest and taxes, climbed 11 times to 350 million yuan (US$52.2 million), thanks to initiatives taken to transform the commercial model of hypermarkets and the acceleration of online to offline services.

Globally, sales on a like-for-like basis were up 1.4 percent to 85 billion euros (US$96 billion).

Carrefour said it was continuing with its digitization pace while modernizing its offerings and ensuring more shopper-friendly products and services.

“China is a retailing laboratory for the world, and for Carrefour, China is a specific market that has helped us to learn and understand the future,” President and CEO of Carrefour China Thierry Garnier said.

At the end of last year, Scan & Go technology, which allows users to scan and pay for merchandise at physical stores through WeChat Wallet, has also being used in Carrefour’s offline stores in China.

Self-service check-out machines will also be rolled out in the country by end of March.

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