French retailer Carrefour: 11-fold profit jump in China
Retail giant Carrefour has recorded an 11-fold jump of its profits in mainland China and Taiwan. The extraordinary earnings have been the result of the increase of efficient due to the introduction of digital technologies.
The French retailer’s earnings before interest and taxes climbed to $52.2 million, in part thanks to the acceleration of online to offline services. According to Carrefour, the enterprise will continue its high digitization pace. Shanghai Daily reports that Carrefour introduced Scan & Go technology in 2018. This allows users to scan and pay for merchandise at physical stores through WeChat Wallet. Carrefour will also launch self-service check-out machines soon.
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