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Convenience Store Retailing in China 2009: A Market Analysis
Access Asia Ltd., June 2009, Pages: 197
This report covers the convenience store retailing industry in the People’s Republic of China, including profiles of leading retail chains.
This recently updated report includes:
- The total, regional and sector value for retail sales, including urban/rural and food/non-food splits, up to the end of 2008;
- Statistical data on leading retailer market shares by sales in China up to 2008;
- Market data for each key provincial and urban region, in terms both of volume retail trade and the value of the local economy, up to 2008;
- Value forecast retail market, up to 2013;
- Key current issues , and discursive analysis of the key factors affecting the market;
- The domestic industry examined by key statistical indicators, including number of outlets and turnover, by sector and by key city;
- SWOT analysis
- Profiles of the leading supermarket companies active in China, with financial data up to 2008 in most cases.
- Overview of China’s demographics and macroeconomics.
Based upon these recalculations of retail sales, and based upon the growth in individual retail sectors as well as more recent macro-economic re-evaluations, Access Asia estimates that between 1999 and 2008, China’s total retail market grew 280.94% in current terms to RMB8.50trn – representing a compound annual growth rate (CAGR) of 16.02% over that period.
China’s convenience stores retailing industry continues to develop rapidly. New chain store networks are now focusing on expanding outside large urban centres as retailers extend their reach into many second- and third-tier cities, as well as into provincial towns and rural villages. In the main cities, overcrowding of the market has led to aggressive consolidation, as larger operators begin to swallow up smaller players.
Most convenience stores are run on a very low margin, and these chains’ inability to innovate in what products and services they provide makes them unable to compete effectively and raise margins. Lack of back-of-store efficiency also hinders competitive development. Thus, many chains are financially vulnerable. Larger chains are beginning to aggressively target competitors who they know cannot compete effectively because of poor liquidity and poor management, in order to take them out of the market, and free up market share.
China’s total convenience store industry, based upon our own estimates themselves based largely on company and China Chainstore and Franchise Association data, comprised nearly 330,000 stores in 2008 (including rural retail development programme stores), with total retail sales valued at RMB100bn, this representing about 8.7% of total retail outlets in China, but only 1.7% of the total value of the retail market in China in 2008.
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