China Retail Sector: Walmart opens hybrid supermarket
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High-tech shopping has made its way to China. Walmart has opened a supermarket in Shenzhen that offers goods that customers can also buy on the American retailer's site at J-D.com.
The store will stock more than eight thousand items such as stir-fried clams and fruit, 90 percent of which will also be available online. Purchased items can be delivered to customers in as quickly as 29 minutes. The move comes as "smart retail" gains popularity in China. Smart retail is where retailers and tech giants such as Alibaba and Tencent integrate online and offline shopping. Walmart said that customers will also be able to pay through Tencent's WeChat and bypass traditional checkout counters.