Metro speeds up store openings
By Lu Nengneng |
December 8, 2011, Thursday
|
Print Edition
Print Edition
GERMANY'S Metro AG, the world's third-largest retailer, is accelerating the opening of new stores in China's electronics market as it bids to counteract the aggressive expansion by domestic competitors.
Media Markt China, a joint venture set up by Metro and its Media-Saturn division with Taiwan's manufacturer Foxconn Technology, will open three new stores in Shanghai tomorrow.
This will bring the total number of its outlets to seven in the country a year after it was set established.
The new shops, located in Minhang, Jiading and Baoshan districts, are positioned as community-level stores offering multi-level products to cater to consumers' different price needs.
Its main rivals, Suning Appliance and Gome Electrical Appliances, had each added more than 240 new stores by September this year and are No. 1 and No. 2 in China's home appliance and electronics retail market.
Their huge sales volume has given them greater bargaining power in negotiations with suppliers, something that Media Markt has not achieved. There are doubts on Media Markt's ability to break even soon as it buys and sells all the products and hires its own sales team.
Media Markt China, a joint venture set up by Metro and its Media-Saturn division with Taiwan's manufacturer Foxconn Technology, will open three new stores in Shanghai tomorrow.
This will bring the total number of its outlets to seven in the country a year after it was set established.
The new shops, located in Minhang, Jiading and Baoshan districts, are positioned as community-level stores offering multi-level products to cater to consumers' different price needs.
Its main rivals, Suning Appliance and Gome Electrical Appliances, had each added more than 240 new stores by September this year and are No. 1 and No. 2 in China's home appliance and electronics retail market.
Their huge sales volume has given them greater bargaining power in negotiations with suppliers, something that Media Markt has not achieved. There are doubts on Media Markt's ability to break even soon as it buys and sells all the products and hires its own sales team.
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