On January 17, Wal Mart announced that the first batch of 29 hypermarkets in eight cities across the country had been upgraded, bringing customers a brand new shopping experience with many highly valued differentiated goods and new products and a brighter and more transparent environment. In recent years, Wal Mart hypermarkets have been accelerating their transformation and upgrading. Through the "leapfrog" cost performance ratio, distinctive differentiated commodity power, and omni channel retail model with stores as the core, Wal Mart is trying to redefine the development model of hypermarkets.
"The Chinese market has tremendous vitality and potential. To win the trust of consumers, retailers should focus on customers and provide meaningful differentiation for them. Many core constructions, such as one-stop shopping and physical stores, are not truly outdated. They just need to keep up with the times and be redefined, evolving into a target audience based, selected one-stop omnichannel shopping experience.", Zhu Xiaojing, president and CEO of Wal Mart China, said that the core of the change in the format of hypermarkets is to return to customers and focus on consumers again.
Zhu Jun, chief procurement officer of Wal Mart hypermarket, said that with the accelerated reform and evolution of the retail industry, consumption habits have become more 'refined'. Only evolving retailers and products are worthy of evolving consumers. "Wal Mart has established a channel retail matrix, and continues to improve the efficiency of e-commerce platforms and expand categories, with more than 10000 products supporting the whole city and the whole country." Zhu Jun revealed that Wal Mart's e-commerce business accounts for nearly half, and develops rapidly in a profitable and sustainable way. Wal Mart does not blindly pursue the proportion of e-commerce, which is the choice of customers.
It is understood that in the past year, Wal Mart has carefully sorted out the breadth and depth of categories, gradually eliminated redundant and inefficient products, rebuilt the commodity system, cleaned up ineffective promotions and improved efficiency. After performing a series of subtraction, add the product force. Wal Mart added 5 special zones offline to meet customers' demand for seasonal and potential trend categories, including seasonal commodity zone, local specialty zone, global shopping and shopping zone, pet products zone, flowers zone, etc., and increased the investment in tasting, so that offline shopping can be better.
Through cooperation with source suppliers, Wal Mart has developed many differentiated new products that are meaningful to customers in recent years. Entering the "New Year Shopping Mall" of Wal Mart's hypermarket, the new product rate of more than 700 new year shopping malls reached 60%, of which nearly half were customized by Wal Mart.
Wal Mart's strategy in developing some products with young people as the main users is to seize the trend, improve the quality and fight against the cost performance ratio. Taking the New Year's goods of leisure snacks and drinks as an example, Wal Mart grasped the topic of "conspicuous bags" and carefully created a batch of "big" gift bags with the manufacturer -35.5-inch Weilong conspicuous bags, including 13 best-selling products in 8 types, including Weilong classic spicy bars, Konjak Shuang, and 25% discount over the single package of ordinary small version. Similar products also include Qihaohutao Richpot, Sizhou Lucky Sign biscuits, the best shrimp tease big gift bag, and the chasing teacher milk tea bucket.
Zhu Jun, chief procurement officer of Wal Mart hypermarket, revealed that Wal Mart will have 30 stores upgraded in 2024.