While China's retail market continues to expand, retailers are at risk of being squeezed in top tier cities by market saturation and e-commerce.
First- and second-tier cities are facing market saturation of luxury goods, say two researchers at Fitch Ratings via the Shanghai Times. Deceleration in same-store sales growth is being attributed to the government crackdown, weaker economic growth, and the rise of online shopping.
When Walmart entered the mainland Chinese market at the forefront of Shenzhen 17 years ago, a bunch of well-known foreign retailers, such as Parknshop, Carrefour, Aeon and Tesco, followed its step to explore opportunities in the country. However, ever since last year, the top three foreign retail giants Walmart, Carrefour and Tesco started to slow down on expansion or even close stores.
China's retail sales in November rose 13.7 percent to CNY2.1 trillion (USD341.4 billion) from a year earlier, the National Bureau of Statistics said on Monday. That compares with a 13.3 percent increase in October. From January to November, the total retail sales advanced 13 percent year-on-year to CNY21.13 trillion.
China's third-party mobile payment transactions nearly tripled in the third quarter from three months ago thanks to the higher adoption rates of smartphones and mobile devices.
History will be the ultimate judge, but there is good reason to believe that China's recently completed third plenum will come to be regarded as a pivotal moment in the country's development. At long last, China's senior leadership has endorsed a raft of reforms that could impel the economy's shift from reliance on exports to consumption-led growth.
China topped the global retail e-commernce index published recently by A.T. Kearney. Japan, United States, United Kingdom and South Korea rounded out the top five. All G8 countries are in the top 15. However, 10 of the top 30 were also developing countries.
China will encourage spending via online channels and targets a transaction volume of CNY18 trillion (USD2.9 trillion) by 2015 as the country focuses on moving toward a consumption-powered economy from an investment-driven one.
Chinese inflation accelerated slightly to 3.2 percent in October led by higher food prices, the National Bureau of Statistics (NBS) said Saturday. The rise from the same month last year in the consumer price index (CPI), a main gauge of inflation, was a marginal increase from the 3.1 percent recorded in September and marks an eight-month high.
Eighty-eight percent of Taiwanese web users visited a retail site compared with the world average of 74 percent, but Chinese users averaged the most time on retail sites at 149.5 or over 2 hours per month compared with the world average of 79.5 minutes.
These are among the findings of the 2013 China–Taiwan–Hong Kong Digital Future in Focus report released by comScore recently. The report provides an overview of key digital media usage trends in the region.
China's consumer sentiment rose for the third consecutive month in October, led by a significant improvement in both current and future personal financial conditions, a private report showed today.
The monthly measure of consumer confidence in China rose to 95.7 last month from 92.4 in September, posting the highest reading since June, Market News International, a unit of Deutsche Boerse Group, said in a report.