Wumart is one of the leading brands in retail market and this consistent growth of brand requires solid strategic planning. To achieve the high profile status in market, the company remained constantly developing in innovation on themes to deliver the distinctive benefits. Wumart has been growing from the very beginning with the average growing of 40% a year. The company realized that in order to make value in a long term, the company should grow and develop constantly. The ambition of the company is to be the leader of the industry for which WuMart has designed the growth strategy with the strategic goal to have the largest number of different types of stores on the local Chinese market. The goal the company wants to achieve includes…show more content…
WuMart was the first retail shop on Chinese market, which built up a corporate image and spread it with the help of advertising, events and marketing incentives. The advertising strategy of the company is based on trying to help the consumers to save their money, which is the most important thing for Chinese people. WuMart organizes special promo activities to give the customers additional value, which could be cutting prices or presents for a purchase on defined sum. The availability to buy fresh traditional food in the stores is also a unique feature of WuMart, which shows the affiliation with the local people.
The retail industry has been through much change in China with the proposition to change the retail structure with new legislation. Recent economic conditions have resulted in increasing sales in the overall industry. The experience of western retail approach was accepted by creating of variety of types of stores. WuMart was the first brand on the market, which had opened the large stores that catered to all customer needs.
Variety of WuMart shops, 2006 year
With a variety of the stores and big market share WuMart has a high bargaining power, which allows to create trends and to control the development of retail sector. Nowadays advanced technology is utilized in almost everyone industry. Therefore it is an increasingly important factor for the business environment. WuMart concentrates on the improvement of the IT