TonyM
11-25-2007, 05:47 PM
Anyone catch that early on Saturday morning? WMT is turning the PRC into America, the Chinese consumers are going to their stores an average of 2x per day. Watching the story was so ironic, it was like looking in the rear view mirror at their rise in America. And just think, with the weakening dollar the Chinese in a few years may be sitting on their sofas watching their HDTVs and commenting on how Walmart and their cheap American crap is ruining their country and leading to outsourcing for cheap American labor:lol:
The CEO of chinese operations Joe Hatfield figures to have 2000 stores over there in the next 20 years. They have been innovative in figuring out the chinese consumer, for instance they found that they were not selling very much detergent because...not many chinese have washing machines, so they brought in smaller packages for hand washing and those became their best selling products, something like 25k packages in a day iirc. Very interesting show if you get a chance to catch a repeat...I can't believe I'm actually pumping a CNBC show.
The CEO of chinese operations Joe Hatfield figures to have 2000 stores over there in the next 20 years. They have been innovative in figuring out the chinese consumer, for instance they found that they were not selling very much detergent because...not many chinese have washing machines, so they brought in smaller packages for hand washing and those became their best selling products, something like 25k packages in a day iirc. Very interesting show if you get a chance to catch a repeat...I can't believe I'm actually pumping a CNBC show.