China: leading FMCG retailers based on sales value| ��ƽ��

Leading supermarket and hypermarket operators in China in 2023, based on sales value (in billion yuan)

Characteristic	Sales value in billion yuan
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Release date

July 2024

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Region

China

Survey time period

2023

Supplementary notes

One yuan equals approximately 0.14 U.S. dollars and 0.13 euros (as of February 2025).

Figures represent retail sales before tax, in absolute terms. Values have been rounded.

* Figures refer to revenue for fiscal year 2024.

Citation formats

In 2023, Walmart (China) Investment Co., Ltd. ranked first among all supermarket operators in China, with the value of annual sales amounting to around billion yuan. Walmart (China) Investment Co., Ltd. operates two supermarket brands in China: Walmart and Sam's Club.

The battle between local players and global giants

Although domestic chains like WuMart were among the early pioneers in China’s supermarket industry, the market in the 1990s was still largely dominated by international retail giants such as Walmart, Carrefour, and Metro. However, the turning point came at the beginning of the 21st century, as patriotism surged across China. In 2019, Carrefour China sold the majority of its equity to the Chinese retailer Suning.com, while in 2020, Metro China was acquired by WuMart.

The Triumph of Sam’s Club

While many believed that foreign supermarket brands would gradually exit the Chinese market, Walmart-owned Sam’s Club has defied expectations with remarkable success. The membership-based warehouse club attracts price-sensitive consumers by offering competitive prices and a diverse selection of popular products. As a result, the number of Sam’s Club locations in China has grown significantly, rising from just ** in 2016 to ** in 2025.