Zhang Yu

JeniZhang13@163.com

RETAIL giant Walmart Inc. is planning further expansion in the Chinese market after achieving record sales growth last year, its annual conference was told Wednesday.

The world’s largest retailer will open 30 to 40 new stores, remodel 50 existing outlets and open a fresh food distribution center in Dongguan, Guangdong Province, this year.

Tan Wern-Yuen, the newly appointed president and CEO of Walmart’s China division, attributed the sales growth to the company’s efforts in leveraging its business fundamentals and omni-channel retail strategy. “Quality, differentiation and cost performance of commodities are three key factors that we focus on,” Tan said.

Last year, Walmart opened 31 new stores in China, including 27 hypermarkets and four Sam’s Clubs, which delivered better-than-expected results, the company said.

Meanwhile, it has invested nearly 300 million yuan (US$47.44 million) to upgrade 62 stores, especially in the fresh food sector.

In 2018, it plans to fork out another 300 million yuan to upgrade 50 stores, and will increase the application of science and technology in business operation.

The company also reported substantial growth in online sales in 2017, as it has continued to ante up its bets on e-commerce.

As part of the strategic partnership with e-commerce giant JD.com, Walmart opened a flagship store on the latter’s Internet platform in 2016. Last year, the two launched a shopping festival both online and offline Aug. 8. According to Walmart, the sales volume in August alone was nearly eight times more than when the flagship outlet opened in October 2016.

While keeping its eyes on first- and second-tier cities, Walmart is scheduled to open five Sam’s Clubs in cities including Suzhou, Chengdu, Shenyang, Beijing and Nantong this year.