Shanghai & Beijing Are All Doomed?Physical Stores & Large Supermarkets Are Closing One After Another

The wave of closures is not only affecting small brick-and-mortar stores. Recently, a number of large, established supermarkets in Beijing, Shenzhen, Suzhou, Fuzhou, and other cities have not been spared. In the wave of supermarket closures in mainland China, Carrefour is also included. Carrefour China has been gradually closing stores over the past one to two years. On June 10th, the first Carrefour store in Shenzhen and the second in China ceased operation. This 27-year-old store located in the Nantou area of Nanshan has been a mainstay. In addition to the bleak business of offline physical stores, China’s online consumption has also declined significantly. #chinaeconomy #shanghai #beijing #chinaobserver All rights reserved.