Many self-service stores stop servicing Shanghai

Source:Global Times Published: 2018/3/7 18:33:39

“The first half of the competition is to snatch a position while the second half is to improve operations.”

More than 300 self-service convenience stores stopped their service in Shanghai recently as their owner declared it will exit the city's market, Laodong Daily reported Tuesday. After swarming into the market in 2017, companies providing self-service convenience shelves encountered many problems including high operational costs and property management fees as well as competition with convenient stores and e-commerce platforms. According to statistics, over 40 such companies were established over the last two years, receiving 3 billion yuan ($474 million) in financing.

Illustration:Lu Ting/GT


Posted in: PULSE

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