German retailer group Metro AG is planning to open an imported goods specialty store within Shanghai’s Free Trade Zone by the end of this year to grab a slice of the booming imported goods market.
Metro AG said it expects e-commerce transaction could make up as much as 10 percent of its overall income in China within one or two years.
"We’ll shift our focus to expansion from opening new stores to renovating existing ones to better suit e-commerce shoppers. For the online business, we also hope to target more corporate consumers in order to guarantee our profit margin," president of Metro Cash & Carry China Jeroen de Groot told a press briefing on Tuesday.
(Source: Shanghai Daily)