Thomson ReutersFebruary 21, 2014 02:02
By Nandita Bose and Adam Rose
MUMBAI/BEIJING (Reuters) - Wal-Mart Stores Inc, famed for its low prices, has stumbled in the one major market where consumers say price is less of a driver in their buying decisions: China.
There, consumers say they want food that is safe and authentic, and, after 17 years, Wal-Mart is changing its approach, closing some big-box stores that never quite caught on with locals. Instead, it's focusing on private-label products and imports, putting its stamp on quality and safety.