[1/3] The sign outside the Sam's Club is seen at its store in Shanghai, China July 12, 2023.
The membership stores are also gaining ground amid a sales decline in China's hypermarket sector, which struggled with a shift towards online purchases during the pandemic.
The club warehouse format "is the only bright spot," said Derek Deng, who leads Bain & Company's consumer products practice in greater China.
"Sam's Club are doing well.
But Sam's Club was ultimately confident it is currently miles ahead, one of the people said.
Persons:
Aly, Liu Zheng, lockdowns, Derek Deng, Bain, Kantar Worldpanel, Judith McKenna, Bain's Deng, Christina Zhu, Sophie Yu, Brenda Goh, Jamie Freed
Organizations:
Sam's, REUTERS, Sam's Club, Costco, Walmart, HK, Freshippo, Carrefour, Yonghui, Bain, Reuters Graphics, Reuters, Sun, Retail, M, Beijing Yaodi Agriculture, M Club, Thomson
Locations:
Shanghai, China, BEIJING, Beijing, U.S, United States, Carrefour China, Peking, Yangzhou, Lanzhou, Sam's