The US Retailer, Walmart has set ambitious expansion plans to open 500 new outlets in China within the next five to seven years. The expansion plan will see the retailer more than double its overall presence in the territory. The expansion has come at a time when China is currently grappling with the US Trade War and slow growth overall.
However, in spite of the setbacks, consumers in China are still spending money at Walmart – which experienced 6.3% year-on-year growth in the last quater. ‘We will continue to collaborate with partners and policymakers in China to accelerate our expansion’ – James Ku – Walmart China Senior VP