Carrefour launches large-scale promotion in China

Dec. 29, 2008 (China Knowledge) - France-based Carrefour SA, the world's second largest retailer, plans to cut prices at 125 chain stores in China from Friday to Feb. 9 next year, in a bid to spur sales amid the global financial crisis, sources reported.

The promotion, to be initially launched at 23 outlets in southern China, will cover lots of goods, such as rice, cooking oil, candy, wine, food as well as other commodities. The prices will be slashed by 20% to 30%, sources reported, citing Li Jia, the media relations manager for Carrefour's South China division, as saying.

Carrefour entered the Chinese market in 1995, and this move is the largest promotion by scale in the past 15 years, sources said.

Earlier this month, the U.S. retail giant Wal-Mart Store, Inc began to offer discounts of up to 20% on an average of 1,000 items at its 119 outlets in the Chinese market.