Walmart Adopts German Discount Strategies in China Amid Economic Slowdown
Walmart is revamping its China strategy with private-label products and budget pricing, mirroring German discounters Aldi and Lidl. The MOVE comes as Chinese consumers tighten spending amid economic headwinds including property market instability and deflation.
Retail sales among China's top 100 operators stagnated in 2023, with store counts declining nearly 10%. "Consumers are increasingly price-sensitive as economic growth slows," notes Jason Yu of CTR Market Research, highlighting a surge in demand for value offerings.