--FILE--A customer leaves a 7-ELEVEN convenience store in Shanghai, China, 18 September 2012. Small is the new beautiful when it comes to China's retail industry, according to industry experts. French Carrefour SA, for instance, the world's second-largest retailer by revenue, recently opened its first convenience store in Shanghai after two decades in the country, in a sign that traditional hypermarkets are gradually shifting to smaller-sized stores to offset the high costs of physical stores and fast growth in online shopping. Convenience stores close to residential areas, particularly, have been gaining market share. Last weekend, Carrefour launched its first "Easy Carrefour" branded store in the Minhang district of Shanghai, according to a source at the French retailer. Germany's retailer Metro AG is also due to expand its new convenience format, which can be bought as a franchise too, according to a report by China Chain Store magazine. Its format is quite specifically targeted at areas, it said, near schools, residential communities and hospitals, covering floor space ranging from 50 to 100 square meters.
