Monday - Friday, 10:00 - 11:00 SIN/HK | 0400 - 05:00 CET
This report is from this week’s CNBC’s The China Connection newsletter, which brings you insights and analysis on what’s driving the world’s second-largest economy. You can subscribe here.
Latest data from China showed a key gauge on consumption falling to its weakest level in nearly three years. But it does not capture the full story.
American membership warehouse clubs are telling something more nuanced: they are finding success in drawing consumers who are willing to pay a hefty membership fee in exchange for premium goods at reasonable prices. On top of that, those stores provide no-frill “treasure-hunt” shopping experiences to sweeten the deal.
Sam’s Club, the membership-based warehouse retail arm of Walmart, opened its new store in Beijing last month, followed by another one in Shanghai on Tuesday. They drew large crowds, snarling traffic for hours and keeping consumers in long queues.
