Wal-Mart in China Yiwu
Wal-Mart in China Yiwu
Speaking of Wal-Mart in China Yiwu, maybe most of us are not familiar with it until you shopping in former Trust-Mart in Yiwu. The red white signboard changed into lighting blue background with white “Wal-Mart”, new Wal-Mart logo printed everywhere, new Wal-Mart layout and Wal-Mart self-owned brand products. Wal-Mart in China Yiwu is located in the underground shopping market in the Xiuhu Square.
These were all triggered by the acquiring plan of Wal-Mart. In 2006, Wal-Mart was planed to acquire Trust-Mart. There were 14 branches of Trust-Mart in Zhejiang province, one of them was in Yiwu. Because of different business pattern and management idea, it is very difficult to realize the unite operation of shops. Until in Augest, 2011, Wal-Mart entered in Yiwu and Trust-Mart in Yiwu disappeared.
The entering of Wal-Mart in China Yiwu threatened the local retailing market in some degree. At the same time Wal-Mart in China Yiwu also faced the fierce competition from local retailer. According to top 100 ranking from the China Chain operation association, Wal-Mart in China ranked 4th with 40 billion sales volume while Trust-Mart has 16.5 billion .But the first one is RT-Mart in China with 50.2 sales volume. There is a saying that the probability of the combination between RT-Mart and Group Anchan SA in China would be the biggest threat to Wal-Mart.
In Augest, 2011, Wal-Mart changed into his own logo. However, that didn’t mean every branch of Trust-Mart in China would switch and Wal-Mart deserve some of them which were in the second or third-tier cities because in those city the popularity of Trust-Mart is hotter than Wal-Mart in China.
Why Wal-Mart choose Yiwu? Undoubtedly, the International trade city is the key of it. Yiwu has a great platform for business. Wal-Mart in China Yiwu can function as distributing goods to each place around the world.
We believe along with the high pace of Yiwu economic development, more and more world famous brand settle down in Yiwu. Wal-Mart in China Yiwu, Starbucks, Pizza Hut, Kohler in China Yiwu and so on are all here growing with Yiwu. This can not only help Yiwu economic develop more quickly and in a virtuous circle but also promote the publicity of Yiwu. Moreover, the extended citizens can surely get benefit from it.