Ordinary People Can’t Afford Supermarkets Anymore! Alibaba’s Famous Chain Closes 13 Stores in a Row

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Alibaba's Jack Ma invested 22.4 billion Hong Kong dollars to acquire RT-Mart, marking a milestone in the development of China's e-commerce industry. At that time, RT-Mart operated over a hundred grocery store chains across 29 provinces and municipalities in China, securing the top market share in the Chinese retail industry. Seven years have passed, and RT-Mart's popularity has been declining, facing a wave of store closures. Since 2023, at least 13 RT-Mart stores have announced their closure.
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