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Carrefour China has been doing whatever it takes to revitalise its business to stay ahead amid fierce competition from both local bricks and mortar players and the ecommerce giants. The retailer has reported significant improvement (over €100m) in its recurring operating income in its Asia business in the last two years, mainly driven by Carrefour China.
What has worked for Carrefour China?
The retailer has benefited from its strategy on expanding new formats, digital revolution, testing and building partnerships and increasing productivity:
How can suppliers grow with retailers in transformation?
Like Carrefour China, many retailers in Asia are going through or starting their transformation journey. It tremendously changes the way retailers operate their businesses and how they work with suppliers. There are a few key areas suppliers need to consider when collaborating with retailers during such transformation.
A successful retail transformation begins at the top, with the support from senior leaders. The suppliers need to involve their senior leadership and be more deliberate on their resource allocation when collaborating with retailers that are going through such transformation.