FamilyMart Finally Opened its Doors in Shenzhen
FamilyMart a chain of convenience stores that is run by Taiwan based Hsin International Group opened eight stores in Shenzhen last week with some saying that it was an ambitious move of the company to bring the total number of its outlets in China to 1,132. The company is also intends to look for further opportunities to expand in second, third and four tiered cities that has a population of more than a million people and is planning to raise the number of its store to 10,000 by 2024.
FamilyMart growth strategies includes introducing a more original and high value products, coffee machines in stores and private brands to separate itself from other competitors and the company is well on its way in developing ready to eat products and putting eat in areas in their stores. Wei Yin-hen a spokesperson for the Ting Hsin stated that the company is not worried on the economic recession in the mainland but however is concern on a shortage of workers instead.
In 2004 the company finally entered the mainland shores and currently has operations in Suzhou, Shanghaoi, Hangzhou, Guangzhou and Chengdu and will be opening more stores in Dongguan and Beijing before the year ends. Based on the China Chain Store and Franchise Association these chain stores are outperforming traditional department stores based on sales growth.