Retailers must prioritize to meet demand
Print Edition
RETAILERS have prioritized a clear corporate strategy and strong consumer brands to help them expand as customers shift their demand, according to the Power Ranking report by Kantar Retail.
RT Mart topped the retailers’ ranking as its brand image was more favorable for manufacturers, and also due to better sales and earnings growth.
Walmart and Yonghui Supermarkets followed suit on the top retailers’ ranking due to their efficient supply chain. Yonghui’s rapid expansion and exploration of new business formats also helped its ranking.
With China’s economic growth easing and ongoing restructuring in various business sectors, retailers and consumer goods companies are also seeking innovative ways to grow their business as well as embracing an integrated online and offline retail strategies, the report said.
P&G, Unilever and Coca Cola are the top three consumer brands as they all have insightful market strategy, strong management team, and respond fast to new market trends.
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