Retail in China

TABLE OF CONTENTS

List Of Contents And Tables

EXECUTIVE SUMMARY

• Retail in 2024: The big picture
• Digital and social media initiatives drive retail growth
• Shifts in retail channels favour value-based retail and online sales
• What next for retail?

OPERATING ENVIRONMENT

• Informal retail
• Opening hours for physical retail
• Summary 1 Standard Opening Hours by Channel Type 2024
• Seasonality
• 618 Shopping Festival and Double 11 Shopping Festival
• Shanghai May 5th Shopping Festival

MARKET DATA

• Table 1 Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2019-2024
• Table 2 Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2019-2024
• Table 3 Sales in Retail Offline by Channel: Value 2019-2024
• Table 4 Sales in Retail Offline by Channel: % Value Growth 2019-2024
• Table 5 Retail Offline Outlets by Channel: Units 2019-2024
• Table 6 Retail Offline Outlets by Channel: % Unit Growth 2019-2024
• Table 7 Sales in Retail E-Commerce by Product: Value 2019-2024
• Table 8 Sales in Retail E-Commerce by Product: % Value Growth 2019-2024
• Table 9 Grocery Retailers: Value Sales, Outlets and Selling Space 2019-2024
• Table 10 Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2019-2024
• Table 11 Sales in Grocery Retailers by Channel: Value 2019-2024
• Table 12 Sales in Grocery Retailers by Channel: % Value Growth 2019-2024
• Table 13 Grocery Retailers Outlets by Channel: Units 2019-2024
• Table 14 Grocery Retailers Outlets by Channel: % Unit Growth 2019-2024
• Table 15 Non-Grocery Retailers: Value Sales, Outlets and Selling Space 2019-2024
• Table 16 Non-Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2019-2024
• Table 17 Sales in Non-Grocery Retailers by Channel: Value 2019-2024
• Table 18 Sales in Non-Grocery Retailers by Channel: % Value Growth 2019-2024
• Table 19 Non-Grocery Retailers Outlets by Channel: Units 2019-2024
• Table 20 Non-Grocery Retailers Outlets by Channel: % Unit Growth 2019-2024
• Table 21 Retail GBO Company Shares: % Value 2020-2024
• Table 22 Retail GBN Brand Shares: % Value 2021-2024
• Table 23 Retail Offline GBO Company Shares: % Value 2020-2024
• Table 24 Retail Offline GBN Brand Shares: % Value 2021-2024
• Table 25 Retail Offline LBN Brand Shares: Outlets 2021-2024
• Table 26 Retail E-Commerce GBO Company Shares: % Value 2020-2024
• Table 27 Retail E-Commerce GBN Brand Shares: % Value 2021-2024
• Table 28 Grocery Retailers GBO Company Shares: % Value 2020-2024
• Table 29 Grocery Retailers GBN Brand Shares: % Value 2021-2024
• Table 30 Grocery Retailers LBN Brand Shares: Outlets 2021-2024
• Table 31 Non-Grocery Retailers GBO Company Shares: % Value 2020-2024
• Table 32 Non-Grocery Retailers GBN Brand Shares: % Value 2021-2024
• Table 33 Non-Grocery Retailers LBN Brand Shares: Outlets 2021-2024
• Table 34 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2024-2029
• Table 35 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2024-2029
• Table 36 Forecast Sales in Retail Offline by Channel: Value 2024-2029
• Table 37 Forecast Sales in Retail Offline by Channel: % Value Growth 2024-2029
• Table 38 Forecast Retail Offline Outlets by Channel: Units 2024-2029
• Table 39 Forecast Retail Offline Outlets by Channel: % Unit Growth 2024-2029
• Table 40 Forecast Sales in Retail E-Commerce by Product: Value 2024-2029
• Table 41 Forecast Sales in Retail E-Commerce by Product: % Value Growth 2024-2029
• Table 42 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2024-2029
• Table 43 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
• Table 44 Forecast Sales in Grocery Retailers by Channel: Value 2024-2029
• Table 45 Forecast Sales in Grocery Retailers by Channel: % Value Growth 2024-2029
• Table 46 Forecast Grocery Retailers Outlets by Channel: Units 2024-2029
• Table 47 Forecast Grocery Retailers Outlets by Channel: % Unit Growth 2024-2029
• Table 48 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2024-2029
• Table 49 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
• Table 50 Forecast Sales in Non-Grocery Retailers by Channel: Value 2024-2029
• Table 51 Forecast Sales in Non-Grocery Retailers by Channel: % Value Growth 2024-2029
• Table 52 Forecast Non-Grocery Retailers Outlets by Channel: Units 2024-2029
• Table 53 Forecast Non-Grocery Retailers Outlets by Channel: % Unit Growth 2024-2029

DISCLAIMER

SOURCES

• Summary 2 Research Sources

CONVENIENCE RETAILERS IN CHINA

KEY DATA FINDINGS

2024 DEVELOPMENTS

• Rising sales for convenience retailers thanks to growth across China's lower-tier cities
• Adoption of artificial intelligence (AI) enhances operational efficiency and competitiveness
• Leaders in convenience retailers sustain their dominance despite competitive pressures

PROSPECTS AND OPPORTUNITIES

• Strong growth forecast for convenience retailers in China over the next five years
• Strategic expansion into lower-tier cities set to drive growth
• Hours of operation and product portfolios likely to be extended

CHANNEL DATA

• Table 54 Convenience Retailers: Value Sales, Outlets and Selling Space 2019-2024
• Table 55 Convenience Retailers: Value Sales, Outlets and Selling Space: % Growth 2019-2024
• Table 56 Sales in Convenience Retailers by Channel: Value 2019-2024
• Table 57 Sales in Convenience Retailers by Channel: % Value Growth 2019-2024
• Table 58 Convenience Retailers GBO Company Shares: % Value 2020-2024
• Table 59 Convenience Retailers GBN Brand Shares: % Value 2021-2024
• Table 60 Convenience Retailers LBN Brand Shares: Outlets 2021-2024
• Table 61 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space 2024-2029
• Table 62 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
• Table 63 Forecast Sales in Convenience Retailers by Channel: Value 2024-2029
• Table 64 Forecast Sales in Convenience Retailers by Channel: % Value Growth 2024-2029

DISCOUNTERS IN CHINA

KEY DATA FINDINGS

2024 DEVELOPMENTS

• Rapid growth for discounters in China, as consumers seek value for money
• Domestic discounters surpass international rivals in the competitive landscape
• A preference for smaller stores in discounters

PROSPECTS AND OPPORTUNITIES

• Anticipated continued momentum for discounters in the Chinese market
• Increased importance of localisation in discounters in China
• Private label is an area with growth potential

CHANNEL DATA

• Table 65 Discounters: Value Sales, Outlets and Selling Space 2019-2024
• Table 66 Discounters: Value Sales, Outlets and Selling Space: % Growth 2019-2024
• Table 67 Discounters GBO Company Shares: % Value 2020-2024
• Table 68 Discounters GBN Brand Shares: % Value 2021-2024
• Table 69 Discounters LBN Brand Shares: Outlets 2021-2024
• Table 70 Discounters Forecasts: Value Sales, Outlets and Selling Space 2024-2029
• Table 71 Discounters Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029

HYPERMARKETS IN CHINA

KEY DATA FINDINGS

2024 DEVELOPMENTS

• Continued decline for hypermarkets in China, amidst shifting consumer preferences
• Walmart Supercenter maintains its leadership amidst decline for hypermarkets
• Strategies to try and stop the decline for hypermarkets

PROSPECTS AND OPPORTUNITIES

• Stability forecast for hypermarkets amidst evolving consumer preferences
• Differentiation strategies aim to drive growth for hypermarkets
• Improvement in delivery coverage anticipated

CHANNEL DATA

• Table 72 Hypermarkets: Value Sales, Outlets and Selling Space 2019-2024
• Table 73 Hypermarkets: Value Sales, Outlets and Selling Space: % Growth 2019-2024
• Table 74 Hypermarkets GBO Company Shares: % Value 2020-2024
• Table 75 Hypermarkets GBN Brand Shares: % Value 2021-2024
• Table 76 Hypermarkets LBN Brand Shares: Outlets 2021-2024
• Table 77 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space 2024-2029
• Table 78 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029

SUPERMARKETS IN CHINA

KEY DATA FINDINGS

2024 DEVELOPMENTS

• Supermarkets sees modest growth amidst evolving consumer behaviours in 2024
• Move towards supply chain efficiency in supermarkets
• Players move online and focus on fresh food to remain competitive

PROSPECTS AND OPPORTUNITIES

• Steady growth expected for supermarkets, with opportunities in lower-tier cities
• Competitive pressure from retail e-commerce will challenge the performance of supermarkets
• Polarisation may be seen in supermarkets

CHANNEL DATA

• Table 79 Supermarkets: Value Sales, Outlets and Selling Space 2019-2024
• Table 80 Supermarkets: Value Sales, Outlets and Selling Space: % Growth 2019-2024
• Table 81 Supermarkets GBO Company Shares: % Value 2020-2024
• Table 82 Supermarkets GBN Brand Shares: % Value 2021-2024
• Table 83 Supermarkets LBN Brand Shares: Outlets 2021-2024
• Table 84 Supermarkets Forecasts: Value Sales, Outlets and Selling Space 2024-2029
• Table 85 Supermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029

SMALL LOCAL GROCERS IN CHINA

KEY DATA FINDINGS

2024 DEVELOPMENTS

• Value growth maintained in small local grocers amidst post-COVID-19 shifts
• Small local grocers continues to play a crucial role in China's retail landscape
• Small local grocers remains highly fragmented

PROSPECTS AND OPPORTUNITIES

• Slow and stable growth expected to be maintained for small local grocers in China over the forecast period
• Challenges to growth as younger generations prefer modern grocery retailers
• More players will leverage digital tools to get ahead

CHANNEL DATA

• Table 86 Small Local Grocers: Value Sales, Outlets and Selling Space 2019-2024
• Table 87 Small Local Grocers: Value Sales, Outlets and Selling Space: % Growth 2019-2024
• Table 88 Small Local Grocers GBO Company Shares: % Value 2020-2024
• Table 89 Small Local Grocers GBN Brand Shares: % Value 2021-2024
• Table 90 Small Local Grocers LBN Brand Shares: Outlets 2021-2024
• Table 91 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space 2024-2029
• Table 92 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029

GENERAL MERCHANDISE STORES IN CHINA

KEY DATA FINDINGS

2024 DEVELOPMENTS

• Various factors impact department stores in China in 2024
• Steady growth for variety stores, driven by innovation and Gen Z preferences
• Leading department stores adapt and maintain growth in a competitive landscape

PROSPECTS AND OPPORTUNITIES

• Stable growth forecast for department stores through community commercialisation
• Rapid development expected for variety stores moving forward
• Variety stores likely to look at enhancing customer loyalty

CHANNEL DATA

• Table 93 General Merchandise Stores: Value Sales, Outlets and Selling Space 2019-2024
• Table 94 General Merchandise Stores: Value Sales, Outlets and Selling Space: % Growth 2019-2024
• Table 95 Sales in General Merchandise Stores by Channel: Value 2019-2024
• Table 96 Sales in General Merchandise Stores by Channel: % Value Growth 2019-2024
• Table 97 General Merchandise Stores GBO Company Shares: % Value 2020-2024
• Table 98 General Merchandise Stores GBN Brand Shares: % Value 2021-2024
• Table 99 General Merchandise Stores LBN Brand Shares: Outlets 2021-2024
• Table 100 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space 2024-2029
• Table 101 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
• Table 102 Forecast Sales in General Merchandise Stores by Channel: Value 2024-2029
• Table 103 Forecast Sales in General Merchandise Stores by Channel: % Value Growth 2024-2029

APPAREL AND FOOTWEAR SPECIALISTS IN CHINA

KEY DATA FINDINGS

2024 DEVELOPMENTS

• Shifting consumer preferences lead to stable but cautious growth for apparel and footwear specialists
• Domestic brands dominate as fast fashion falters in apparel in 2024
• The popularity of live broadcasts means more offline retailers are becoming involved

PROSPECTS AND OPPORTUNITIES

• Resilience expected for apparel and footwear specialists in China, despite the challenge from other channels
• Creating outlets in which consumers want to spend time
• Opportunities for digital transformation within apparel and footwear specialists

CHANNEL DATA

• Table 104 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space 2019-2024
• Table 105 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space: % Growth 2019-2024
• Table 106 Apparel and Footwear Specialists GBO Company Shares: % Value 2020-2024
• Table 107 Apparel and Footwear Specialists GBN Brand Shares: % Value 2021-2024
• Table 108 Apparel and Footwear Specialists LBN Brand Shares: Outlets 2021-2024
• Table 109 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space 2024-2029
• Table 110 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029

APPLIANCES AND ELECTRONICS SPECIALISTS IN CHINA

KEY DATA FINDINGS

2024 DEVELOPMENTS

• Appliances and electronics specialists remains stable amidst housing market slowdown
• Premiumisation is notable in appliances and electronics specialists in tier-1 and tier-2 cities
• Competitive landscape shifts, with key retailers struggling

PROSPECTS AND OPPORTUNITIES

• Slow and stable growth, and the consumer shift towards energy efficiency
• Rising competition from retail e-commerce
• Possibility of a change in leadership in the forecast period

CHANNEL DATA

• Table 111 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space 2019-2024
• Table 112 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space: % Growth 2019-2024
• Table 113 Appliances and Electronics Specialists GBO Company Shares: % Value 2020-2024
• Table 114 Appliances and Electronics Specialists GBN Brand Shares: % Value 2021-2024
• Table 115 Appliances and Electronics Specialists LBN Brand Shares: Outlets 2021-2024
• Table 116 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space 2024-2029
• Table 117 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029

HEALTH AND BEAUTY SPECIALISTS IN CHINA

KEY DATA FINDINGS

2024 DEVELOPMENTS

• Steady growth for beauty specialists, driven by domestic brands
• Steady growth and increasing concentration for pharmacies
• Intensification of competition amongst leading players in pharmacies

PROSPECTS AND OPPORTUNITIES

• Return to stronger growth expected for beauty specialists, driven by domestic brands and innovation
• Continued growth for pharmacies as they offer wider product ranges
• A key strategy for beauty specialists will be differentiation

CHANNEL DATA

• Table 118 Health and Beauty Specialists: Value Sales, Outlets and Selling Space 2019-2024
• Table 119 Health and Beauty Specialists: Value Sales, Outlets and Selling Space: % Growth 2019-2024
• Table 120 Sales in Health and Beauty Specialists by Channel: Value 2019-2024
• Table 121 Sales in Health and Beauty Specialists by Channel: % Value Growth 2019-2024
• Table 122 Health and Beauty Specialists GBO Company Shares: % Value 2020-2024
• Table 123 Health and Beauty Specialists GBN Brand Shares: % Value 2021-2024
• Table 124 Health and Beauty Specialists LBN Brand Shares: Outlets 2021-2024
• Table 125 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space 2024-2029
• Table 126 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
• Table 127 Forecast Sales in Health and Beauty Specialists by Channel: Value 2024-2029
• Table 128 Forecast Sales in Health and Beauty Specialists by Channel: % Value Growth 2024-2029

HOME PRODUCTS SPECIALISTS IN CHINA

KEY DATA FINDINGS

2024 DEVELOPMENTS

• Stable but slower growth for homewares and home furnishings stores
• Rise in DIY projects drives continued growth for home improvement and gardening stores
• Ikea's share strengthens amidst competitors' decline

PROSPECTS AND OPPORTUNITIES

• Stable growth expected despite ongoing challenges, with non-toxic products sought
• Players likely to invest in both online and offline resources to attract consumers
• Pet shops and superstores set to see the most dynamic growth

CHANNEL DATA

• Table 129 Home Products Specialists: Value Sales, Outlets and Selling Space 2019-2024
• Table 130 Home Products Specialists: Value Sales, Outlets and Selling Space: % Growth 2019-2024
• Table 131 Sales in Home Products Specialists by Channel: Value 2019-2024
• Table 132 Sales in Home Products Specialists by Channel: % Value Growth 2019-2024
• Table 133 Home Products Specialists GBO Company Shares: % Value 2020-2024
• Table 134 Home Products Specialists GBN Brand Shares: % Value 2021-2024
• Table 135 Home Products Specialists LBN Brand Shares: Outlets 2021-2024
• Table 136 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space 2024-2029
• Table 137 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
• Table 138 Forecast Sales in Home Products Specialists by Channel: Value 2024-2029
• Table 139 Forecast Sales in Home Products Specialists by Channel: % Value Growth 2024-2029

DIRECT SELLING IN CHINA

KEY DATA FINDINGS

2024 DEVELOPMENTS

• Innovation in products and services boosts consumers' interest
• Amway's strong performance amidst decline of competitors
• Entry of new players discouraged by need for a permit

PROSPECTS AND OPPORTUNITIES

• Stable growth expected for direct selling due to greater trust
• Challenges and opportunities from social commerce
• Expansion into lower-tier cities

CHANNEL DATA

• Table 140 Direct Selling by Product: Value 2019-2024
• Table 141 Direct Selling by Product: % Value Growth 2019-2024
• Table 142 Direct Selling GBO Company Shares: % Value 2020-2024
• Table 143 Direct Selling GBN Brand Shares: % Value 2021-2024
• Table 144 Direct Selling Forecasts by Product: Value 2024-2029
• Table 145 Direct Selling Forecasts by Product: % Value Growth 2024-2029

VENDING IN CHINA

KEY DATA FINDINGS

2024 DEVELOPMENTS

• Moderate growth, led by increased need for convenience
• Increased prevalence of technology-enabled vending machines
• Categories served by vending expand beyond the traditional

PROSPECTS AND OPPORTUNITIES

• Stable moderate growth expected for the next five years
• Smart vending will continue to see significant growth in popularity in China
• Increasing competition for vending from convenience stores

CHANNEL DATA

• Table 146 Vending by Product: Value 2019-2024
• Table 147 Vending by Product: % Value Growth 2019-2024
• Table 148 Vending GBO Company Shares: % Value 2020-2024
• Table 149 Vending GBN Brand Shares: % Value 2021-2024
• Table 150 Vending Forecasts by Product: Value 2024-2029
• Table 151 Vending Forecasts by Product: % Value Growth 2024-2029

RETAIL E-COMMERCE IN CHINA

KEY DATA FINDINGS

2024 DEVELOPMENTS

• Robust growth for retail e-commerce, despite slight slowdown
• Competitive landscape shifts, with Douyin and Pinduoduo gaining ground
• Simplified shopping experiences in e-commerce

PROSPECTS AND OPPORTUNITIES

• Sustained high growth projected for retail e-commerce
• Innovation and technological advances set to drive growth in the future
• Hyper-personalised shopping likely to be the future of e-commerce in China

CHANNEL DATA

• Table 152 Retail E-Commerce by Channel: Value 2019-2024
• Table 153 Retail E-Commerce by Channel: % Value Growth 2019-2024
• Table 154 Retail E-Commerce by Product: Value 2019-2024
• Table 155 Retail E-Commerce by Product: % Value Growth 2019-2024
• Table 156 Retail E-Commerce GBO Company Shares: % Value 2020-2024
• Table 157 Retail E-Commerce GBN Brand Shares: % Value 2021-2024
• Table 158 Forecast Retail E-Commerce by Channel: Value 2024-2029
• Table 159 Forecast Retail E-Commerce by Channel: % Value Growth 2024-2029
• Table 160 Forecast Retail E-Commerce by Product: Value 2024-2029
• Table 161 Forecast Retail E-Commerce by Product: % Value Growth 2024-2029