"Asia-Pacific department stores trade at average 39 times of their forecast earnings, compared with 20 for supermarket and convenience store chains, according to Thomson Reuters data."
But, bigger names are now making inroads into Asia such as France's Carrefore. Also, 7-11 want in, and have broken through into HK, and are combining convience with fast food, by partnering with KFC. They are very organized and uniformed.
You see it's partnering, that's what it's all about.