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January 24, 2018

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Carrefour, Tencent seal alliance

CARREFOUR and Tencent announced an alliance in China yesterday, joining a rush of companies trying to link the strengths of online and offline retailing.

The companies said they want to combine Carrefour’s global retail experience and the technology strengths of Tencent, which operates the popular WeChat social media platform and other services. They said they would cooperate on smart retail, mobile payment and data analysis to boost Carrefour China’s customer traffic.

They join a flurry of ventures by retailers including Amazon.com and China’s Alibaba and JD.com aimed at combining the strengths of online and offline retailing.

“Carrefour will improve its online visibility, increase the traffic of its offline and online retail activities and benefit from Tencent’s advanced digital and technological expertise to develop new smart retail initiatives,” the companies said in a statement.

E-commerce is growing with explosive speed in China, putting traditional retailers on the defensive. Online sales accounted for about 20 percent of Chinese retail spending last year but grew 32.2 percent compared with 2016 while overall retail rose 10.2 percent. Tencent and Yonghui are considering a “potential investment” in Carrefour’s China unit, the companies said.




 

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