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China's homegrown retailers are catching up with MNCs, overseas counterparts
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HOMEGROWN retailers and manufacturers made progress against their overseas counterparts and are closing the gap between multinational companies’ market positions, a recent study shows.
In China, RT-Mart improved its ranking in the past year and exceeded Walmart to become the top retailer in terms of their composite performance while JD.com becomes the first online retailer in the top 10, jumping from 11th position in a year ago to the seventh in 2015, retail consultancy Kantar Retail said in a research released today.
The annual study was conducted among more than 430 management level executives at hypermarket, supermarket, convenience and personal care retailers.
Walmart retreated to the second position, followed by CRV, Yonghui and Carrefour.
Retailer has identified key factors for their success including working with important consumer brands, clear strategy, profitability and shopper insights.
In terms of consumer goods manufacturers general performance, P&G, Unilever and Coca-Cola are the top players and their rankings remain the same from that of a year ago, thanks to their mature management and supply chain systems.
Yili improved eight notches to the eighth position, the first time the Chinese company enters the top 10 ranking thanks to its growth potential in modern trade and innovative marketing strategy.
Manufacturers have named strengthening in-stores execution, growth and profitability capability and supply chain management as the key factors for success.
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