On 23 January, Carrefour made plans to reinvigorate its Chinese business, as it was falling behind. It signed a strategic partnership with Tencent and Yonghui in China. Up until now, the Carrefour stock prices have been increasing dramatically, up to 5%. Carrefour explains that this strategic partnership will help improve its online exposure, increase its online and offline business, and help implementing smart retail by using Tencent's advanced digital and technological expertise.
According to Carrefour, the three parties are mainly planning to work together in the following areas: data, smart retail, mobile payments, store experience and data analysis, so that the store can increase its customer flow. Earlier, Carrefour China also vigorously promoted its own online platform. By the end of 2017, it had expanded its territory, adding six more cities, such as Guangzhou and Dongguan, while it was already covering 12, including Beijing and Shanghai, reaching a total of 18 cities at the end of the year.
Source: Tencent Finance