Market competition. Wal-Mart's market in Manhattan, Zhengzhou was fiercely competitive, and it could not compete with other competitors, which led to its bankruptcy. Wal-Mart 1996 entered China and opened the first Wal-Mart store and Sam member store in Shenzhen. As an omni-channel chain retail enterprise, Wal-Mart China integrates physical stores and multiple e-commerce channels based on customer experience, and seamlessly links online and offline.