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Retailing in China: A Market Analysis 2010
Access Asia Ltd, Feb 2010, Pages: 350
This report covers the market for retailing in China. The report covers: Department stores, Supermarkets, Specialist stores (clothing and other non-food stores), Petrol stations, Franchise stores, Convenience stores, Warehouse clubs, and Furniture stores.
EXTRACT FROM INTRODUCTION:
'...Based upon our own calculations of a realistic retail market size in China should be, between 2002 and 2009, China’s total retail market grew 204.5% in current terms over the review period to RMB6.81trn – representing an annual average growth rate of 17.25%.
Over the past few years, China’s retail market has continued to develop rapidly. New chain store networks, malls and shopping streets are now emerging outside the top three cities of Beijing, Guangzhou and Shanghai, as retailers extend their reach into new growth areas of first-tier cities, as well as into second-, third- and other-tier cities. There is aggressive consolidation in the market, as larger operators swallow up smaller players, while there are equally significant numbers of failures, both retail companies and shopping malls.
Now, as the Chinese economy lurches from being one reliant on export manufacturing to one more reliant on a robust domestic consumer market, the retail market is becoming even more important to the country. The race is now on to create the infrastructure that will bring more of rural China into the fold of the consuming classes, driving a need for new transport and storage facilities, computerised inventory, a closed chill-chain, modern management systems and all the other accoutrements of a developed retail system.
Foreign retailers and retail suppliers have much to offer in this market, but competition is tough, and the years of rapid retail growth in China could be about to end, making now a crucial time in which to gain a foothold.
China’s retail market is expected to grow by about 45% between 2010 and 2014, to reach a total value of over RMB10.8trn. ...'
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