Posted on 03/04/2005 12:10:26 PM PST by Toddsterpatriot
Wal-Mart plans 10 new stores in China Firm aims to profit from new rules for foreign retailers
Updated: 11:51 a.m. ET Nov. 2, 2004BEIJING -
The world’s biggest retailer, Wal-Mart Stores Inc., said it planned at least 10 new stores in China next year, joining other foreign retail giants in taking advantage of new rules letting them move into smaller cities.
...Snip...
Last year, it sourced $15 billion worth of goods in low-cost China, from bicycles to fish. Scott said Chinese products made up about 80 percent of imports sold by Wal-Mart at its more than 3,200 U.S. outlets.
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Maybe one thing that could clear up the situation is Wally's website. The list items as imported or American, maybe you could look up your product and tell us what they say on the website. Not sure how thewebsite listing compares to their accounting department's listing, and I won't ask you to tell us what the product is because I respect your privacy, but it could help clear up the picture.
I'll bet a large amount of the US stuff is fresh food (hard to import from China, so it doesn't really count) tires, and like that. I see very few dry goods there from anywhere but China.
The Chinese source definitely had a reason to inflate Chinese sales to WalMart. And you think WalMart put incorrect numbers in their income statement? Why?
You're getting further and further from reality now, aren't you?
Hey, DS, what have you found at Wally's that's American? Fresh food? If it's stuff I buy, I might actually consider buying from them.
Thanks for the idea. Just checked one of our items (that is made in China, BTW). It's listed as "imported" for both country of assembly origin and parts source origin but it isn't specific on the country.
I imagine their accounting dept has to be more specific due to disclosure rules, perhaps because of the need to account for duties and such. I know we have to be very specific as to origin in our reporting as depending on where we source our goods different levels and rules apply. Where we incur duty we of course just build it into the price we charge them.
What's a large amount? In the billions, if you would.
No problem. It's an interesting discussion actually. Anyway, Friday afternoon 5pm and I'm outta here! Will check back later to see what develops.
Thanks did not know that.
Judging by the relative square footage in our local Great*Wall*Mart (a very rough approximation at best, I'll grant you), I'll say about a quarter of total sales, or $50 billions.
I find them to be the same as anybody else, some sections of the store are ruled by imports, some aren't. Small appliances and textiles are totally import happy, tools run more even, entertainment is still mostly printed in the US (and usually loads cheaper at Wally, CDs software and DVDs are probably where 90% of my Wally dollars go), pet supplies are pretty wide open. Wally's got the same stuff as everybody else, well not the same stuff since they're a discount retailer and not everybody else is, but the most of the same brands and a similar spread of places of origin for their goods. I'm not into the superstore idea for groceries, I don't like they're grocery selection usually so I avoid them (I'm a total snob about most of what I eat, and an absolute snob when it comes to my alchohol) and know nothing more about that selection than it disappointed me when I first looked.
The retail world today is import happy, maybe that's a bad thing, doesn't really bother me that much, but I just don't see Wally importing any higher percentage of their goods than anybody else. As the number 1 retailer in the world they, of course, import more goods than anybody else, but having worked in retail in my past I think in shelf space, and as far as shelf space is concerned they're just another retailer that imports stuff.
Yeah they got rid of being specific of country. Of course that became harder as the manufacturing world became global. If you actually listed every country of parts origin on a computer you'd probably list half the UN.
Oh, I know, I'm not happy with any other retailers either. My only beef specifically with Wally on this issue is that since they have so much more power to move the market singlehandedly than does anyone else, that they should be held to a little bit higher standard.
But remember most of the Wallys aren't Super Wallys (only the Supers have fresh fruit), so that skews things a bit. Of course they're moving towards more, and building straight Wallys groceries now. Part of the problem with guessing how much of what Wally sells, they're a constantly moving target.
No problem, I give and receive facts freely, just getting tired of all these feelings.
Sometimes it's like talking to a room full of chicks. A regular Oprah fest.
I can see that, but by the same token you have to keep in mind how they built their market. They're the low price retailer, the primary motivator for moving production over seas is seaking cheap labor, it would be very difficult for Wally to protect their business concept and exert force to keep manufacturers from moving production out of America.
WalMart stores in China? I wonder if 90% of their goods will be manufactured in the USA?
You're too quick for me, DS. When I read you saying that not all Wally's were Super (none of the ones I've visited were any better than a "So-So-Wally's"), I was going to counter with the grocery only ones, but you were already there ahead of me. Drat, foiled again!
Why 90%? Less than 8% of their goods sold here are from China.
Coming soon to China: "Sam's Crub"
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