2013, the doomsday for entity shops? (4)

Foreign companies are facing severer situation

Foreign sales giant are no exception to trend like this.

The world's third-largest home improvement retailer B & Q has announced to close a store in Wuhan. Retail stores CP Lotus which is under Chia Tai Group announced the closure of a store in Beijing in the middle of this month. Sino-Japanese joint venture retail store Wangfujing Yokado also announced it would close a store in Beijing.

In the global financial crisis, with Chinese mainland's strong spending power, China was considered the country with the largest growth potential by many retail giants.

According to experts' analysis, due to the adjustment of the localization strategy and business ideas, coupled with rapid rise in human and rental costs in the past two years, the relatively high-end foreign brands in China frequently encounter setbacks. The wave of shutting down shops is reflecting tougher and tougher days of retail industry.

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