外文标题：Walmart closes store in China
Wal-Mart Stores, the world's largest retailer, has shut an outlet in China after it closed down 10 stores across the country last year, state media reported on Wednesday.
The US-based retailer chose to close the store in Chongqing, southwest China's largest municipality, as the outlet had not been yielding in terms of revenue for a long time, Xinhua news agency quoted a staff member as saying.
Selection of a poor site is also being blamed for the store's declining trade. The avenue is a tourist attraction offering views of the Yangtze River, the report said.
Wal-Mart China had closed 10 stores nationwide in November and December last year.
This is the first closure by Wal-Mart in Chongqing, where it entered 10 years ago.
The retail major planned to invest in its other 12 city outlets, said the staff member.
The emergence of online shopping poses an increasing challenge for firms like Wal-Mart.
Although it still accounted for less than 10 per cent of China's total sales of consumer goods, the country's online retail market posted a transaction volume of 1.89 billion yuan ($307 billion) in 2013, growing by 42.8 per cent year-on-year.
Wal-Mart's stores also face stiff competition from local retailers.
Chinese grocery retailer Yonghui Superstores has been in talks to rent the site that Wal-Mart has vacated in Chongqing.
Walmart is not so smart as we had thought it to be!
Anil Mahajan (Mumbai)
How can wal mart sell chinese goods in china
Walmarts usual model is to export cheap things from China and sell it for a good margin. How are they supposed to use that strategy in China?!!
BlackBox (Home) replies to SachinM
Their procurement levels are colossus and hence cheaper.
Kevin Guite ()
Selection of a good site is essential for sustaining any store.
N Ram (Unknown)
The same thing will happen to WalMart when they open stores in India.
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Sanket Talathi (Unknown)
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Well done, China!
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Rajendra Panda (Location)
Not Surprised.... now incidence reminds of what happened with Google. I always believed that India's market is far better then of China's. But somehow it is not working right now.