Walmart looking to expand retail footprint in China

US retailer Walmart Inc is looking to make further inroads in China's burgeoning retail market by expanding services to busy Chinese families through omni-channels, an expanded hypermarket network, more high-end membership stores and supermarket formats, a top official said.

Doug McMillion, president and CEO of Walmart, told China Daily during his recent visit to Beijing that the world's largest retailer by revenue is looking to drive innovation in three categories: low price and quality merchandise, redefining assortment through learning from partnerships and competitors, and creating fun and efficient shopping experiences for customers.

Walmart China plans to double the number of Sam's Club stores, its high-end membership stores in China, to 40 by 2020. Other measures to boost Sam's Club include improving fresh food quality and stocking of more private brands, he said. Currently, Sam's Club has nearly 2 million members with a renewal rate of core members of about 80 percent.