Wal-Mart New Store to Open in Bao’an Shenzhen
WalMart will be opening a new store in Shenzhen later this year. The new Wal-Mart shopping mall will be located in Shajing Bao’an district of Shenzhen.
Foreign retailers are facing tough competition from other large scale retailers and online retailing. Wal-Mart is opening more new stores in cities of China to boost their presence in booming and competitive market sector in China. So far Wal-Mart has 370 stores with more than 100,000 employees, in Shenzhen along Wal-mart has 12 stores.
Amid a slow economy the company had to close 3 stores in China in April but has reaffirmed its customers that they will be continuing to invest in the Chinese market in hopes to maintain the rapid and steady growth and fulfill its promise to open more than 100 new stores in the country in the next three years.