People shop at a Carrefour hypermarket in Nanjing, East China's Jiangsu Province on February 23. Photo: VCG

Retail giant Carrefour posted improved profits in 2018 in China, as its previous investment paid off.

In the Chinese market, Carrefour saw a significant 11-fold improvement in recurring operating income, at 45 million euros ($51.16 million), largely driven by a clear improvement in return on investment ( ROI), according to a statement of the company released on February 28.

Globally, the group saw its ROI improve by 4.6 percent as compared with the previous year and an increase of 1.4 percent in sales to reach 85 billion euros.

Carrefour attributed an improved performance in the Chinese market to initiatives to transform the commercial model of hypermarkets - Le Marché and the very strong acceleration in the digital segment e-commerce and online-to-offline operations. 

The company also said it is continuing to accelerate its pace of digitalization while modernizing its stores offering more shopper-friendly products and services to provide a better shopping experience in China.

"China is a retailing laboratory for the world. For Carrefour, China is a specific market that has helped us to learn and to understand the future," said Thierry Garnier, president and CEO of Carrefour Great China. 

Detailed efforts included stepping up digital transformation with the roll-out of Le Marche smart stores using technologies such as facial recognition and Scan & Go.

Carrefour online store has made its presence in all cities where Carrefour operates across China, with an innovative mini-program available for use. 

In December 2018, Carrefour entered online marketplace JD Mall with its flagship store.

Carrefour increased investment in hypermarkets and continued to revamp its existing stores by the opening of shop-in-shops in collaboration with domestic and overseas renowned brands such as Dyson and Brookstone.

In November 2018, Carrefour announced plans to cooperate with home appliance retail chain GOME to open the first 11 shop-in-shops for consumer electronics products in Beijing, Shanghai, Wuxi in East China's Jiangsu Province and Hangzhou in East China's Zhejiang Province.

Carrefour has 245 outlets in China.