date:Jun 27, 2013
ruggled to find a profitable model. Yihaodian has yet to turn a profit but its reach and popularity allows WalMart (which has a 52 percent stake) an edge over competitors like Carrefour and Tesco. Retail experts expect both to enter the fray.
A report from McKinsey Company shows how much China has embraced online retail it commanded about 5 to 6 percent of total retail sales in 2012, compared with 5 percent in the U.S. However, Chinese customers tend to buy through intermediary sites like Yih