Alibaba made to the top 100 list of most valuable Chinese brands for the first time after it completed a massive initial public offering in the US last September, according to a latest study.
Between 2011 and 2015, the combined brand value on the top 50 BrandZ Chinese brands list rose 59 percent, reaching USD464.2 billion, WPP Group's research agency Millward Brown said in a research report on Wednesday.
Retail, automobiles and technology are the three fastest growing industries among the top 100 brands.
The confidence of Shanghai consumers improved in the final quarter of 2014 despite the economic slowdown in the city, a survey showed Wednesday.The Index of Consumer Confidence in Shanghai, compiled by Shanghai University of Finance and Economics, landed at 117.6 in the fourth quarter of last year, up from 116.1 in the July-September period.
RetailWATCH: Ten highlights of China's commercial sector 2015, the Fung Business Intelligence Centre
Department stores and large supermarkets retail growth in China will remain sluggish and store closures are here to stay in 2015 while convenience stores and community stores will retain their growth momentum, according to a new report from the Fung Business Intelligence Centre.
China’s e-commerce transactions totaled CNY13 trillion (USD2.1 trillion) in 2014, the government said on Wednesday, as the country looks online for new drivers of growth.
The commerce ministry did not define transactions, saying the term included business-to-business and retail trade. Spokesman Shen Danyang said in a statement they grew 25 percent year on year in 2014. The National Bureau of Statistics said on Tuesday that online retail sales were worth 2.8 trillion yuan in 2014, up 49.7 percent.
China's retail sales rose by around 12 percent in 2014 to roughly CNY26.6 trillion (USD4.28 trillion), the Commerce Ministry said late on Monday.
The country's statistics agency is due to release official 2014 economic data at 0200 GMT on Tuesday. Economists expect economic growth to have slowed to 7.2 percent in the fourth quarter, the weakest since the start of 2009.
Economists polled by Reuters expected retail sales to have grown 11.7 percent from a year earlier in December, flat from the growth in November.
New consumer research shows that domestic online retailers are becoming as popular as multi-national brands amongst shoppers in China. eCommerce brands such as TMall (Alibaba Group) and JD.com (invested by Tencent) are now increasingly trusted businesses, offering far more than just cheap prices and convenience. At their current rate, one of them will likely take the top spot in the next two years, according to OC&C Strategy Consultants Greater China.
It’s no secret that China has become a “must” market for retailers. But successful expansion into this market presents some serious challenges for foreign brands, and establishing a Chinese presence can be a big undertaking. Some leading China retail experts offered these “words of wisdom” on entering the Chinese market:
Despite the slowdown observed by many luxury brands in the China market, overall market dynamics are unchanged and consumer confidence remains high, according to the sixth edition of the 2015 China Luxury Forecast by Ruder Finn and the IPSOS Group.
The report, which covers Greater China in depth, with 1,616 consumers from over 14 major mainland Chinese cities and 317 consumers from the Hong Kong Special Administrative Region, found that travel is now the number one category of luxury for Chinese consumers.
China's retail sales rose 12 percent year on year to CNY23.66 trillion (USD3.87 trillion) in the first 11 months, the National Bureau of Statistics (NBS) said on Friday.
The country's retail sales in November grew 11.7 percent from a year ago to CNY2.35 trillion, slightly up from 11.5 percent growth recorded in October.
China's online retail sales continued to accelerate, soaring 55.9 percent year on year to CNY385.8 billion in the January-November period, based on the survey results of retail catering enterprises with large revenues.
Chinese consumer sentiment was nearly flat in November from a month ago as pessimism about business conditions grew, a latest study showed. The Westpac MNI China Consumer Sentiment Indicator was 111, compared with 110.9 in October, after falling for three straight months, the Australian bank and the Germany’s Market News International said in a joint report on Wednesday.