Articles by 彦飞

Meituan Learns to Be a 'Supermarket'

Once-thriving supermarket chains are sinking deeper into store closures. At the end of November, Carrefour closed its last store in Zhengzhou, Henan. It entered China in 1995 and was once a benchmark in the retail industry, but since 2018, it has closed over 80 stores, exiting provincial capitals including Chengdu, Hangzhou, Jinan, Zhengzhou, and Fuzhou. Other supermarkets are also struggling: Yonghui, the largest local chain, has closed over 400 stores in the past three years; Walmart has closed over 80 in five years; and companies like Wumart, Hongqi, Lianhua, and Bubugao have also contracted to varying degrees.