Core Viewpoint - The article discusses the transformation of RT-Mart, highlighting its strategic decision to close underperforming stores while pivoting towards new business models to regain profitability and adapt to changing consumer preferences. Group 1: Company Overview - RT-Mart has closed 9 stores in the fiscal year 2025, including 8 hypermarkets and 1 medium-sized supermarket, indicating a shift in strategy rather than a decline [1] - The company, founded 28 years ago, was once a leader in offline retail, focusing on second and third-tier cities to establish its presence [5][11] - At its peak, RT-Mart had a significant market share, surpassing competitors like Carrefour and Walmart, and was considered a staple in Chinese households [11] Group 2: Market Challenges - The retail landscape has changed rapidly, with urban expansion and the rise of e-commerce leading to decreased foot traffic in traditional stores [13][15] - The impact of e-commerce has intensified, with online platforms offering better promotions and convenience, making it difficult for physical stores to compete [15][17] - Other major retailers are also facing challenges, with many closing stores and downsizing their operations [17] Group 3: Strategic Response - RT-Mart has opted for a strategy of "cutting the fat" by closing unprofitable stores while focusing on new growth avenues [19][20] - The closed stores were primarily older locations with high operational costs and low performance, allowing the company to streamline its operations [20][22] - The company reported a revenue of 71.55 billion yuan for the fiscal year 2025, with a net profit turnaround to 386 million yuan, showcasing the effectiveness of its new strategies [25] Group 4: New Business Models - RT-Mart has introduced innovative marketing strategies, such as engaging younger consumers through relatable and humorous advertising [27][29] - The company has diversified its store formats, launching M membership stores and community-focused supermarkets that cater to different consumer needs [33][37] - RT-Mart is enhancing its online presence and logistics capabilities, including the establishment of front warehouses for faster delivery, aiming to increase online sales to 40%-50% of total revenue in the next three years [39][43] Group 5: Industry Implications - The transformation of RT-Mart serves as a model for traditional retailers, emphasizing the need to adapt to consumer demands and market conditions [44][47] - The focus has shifted from large hypermarkets to smaller, more accessible stores that offer a curated selection of products at competitive prices [45] - RT-Mart's success illustrates that established brands can thrive by embracing change and understanding consumer needs, rather than clinging to past successes [49]
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