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Beijing retail therapy

Germany's Metro Group, the world's third largest retailer, has opened its second store in Beijing on Wednesday. The store is Metro's 33rd in China, and comes just three months after the opening of its first store in the capital city.

The company says the 2008 Olympic Games will boost the city's hotels and restaurants, which are Metro's core target customers. Metro plans to open at least another two stores in Beijing by the year 2008. Statistics show that China's consumer goods consumption has grown at an average rate of over 10 percent for the past 20 years. Analysts believe that such a rate still provides plenty of room for both international and domestic retailers to tap on. Metro's total sale volume in China exceeded five billion yuan in 2005.

Metro retailer taps Olympic opportunities, Editor:Ge Ting, Source: CCTV.com, 11-02-2006

Source: Retail Growth

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