Logan Taylor, CEO of supermarket chain ParknShop, has offered a damning opinion on the withdrawal of French giant Carrefour from the Hong Kong retail sector in September this year.
The group had originally blamed its early departure on the intense competition in the area, but as Taylor points out, surely the second largest retailer in the world knows how to compete in its sector.
“The real reason why they left,” Taylor explains, “is because they didn’t go and find out the requirements of the consumers here. The truth is, they didn’t understand the Hong Kong consumer.”
ParknShop believes it does, however.
Taylor made the comments amid a surge of corporate confidence, on the eve of the opening of a giant ParknShop superstore, which occupies an area of 750,000 sq ft. The chain has developed what Taylor calls “a third-generation superstore,” where the layout is split into ten sections containing, for example, food produce or a pharmacy. Three more stores are planned in the same concept.
The chain operates 188 stores in Macau and Hong Kong, 37 of which are superstores that would, according to Taylor also be benefiting from many of the features inside the newest store.