Retail chain stores report slowing growth
May 22, 2017 Category Retail, Weekly
Sales of China’s top-100 retail chain stores and franchisees in 2016 grew 3.5% from a year ago, the lowest growth pace since a survey by the China Chain Store and Franchise Association started 20 years ago. Combined sales of the top-100 retail chain stores amounted to CNY2.1 trillion, while the total number of outlets increased by 5.9% from a year earlier to around 114,000, the Association said in a report. A new contributor to growth in transactions last year was online sales, which jumped 69% from a year ago to CNY120 billion, or 5.8% of the total merchandising value. Sales of specialty shops rose 6.5% while those of shopping centers increased 1.6%. Convenience chain store operators opened new stores as they expanded their retail network, while department stores and large supermarkets closed stores. More than 80 of the top-100 chain stores have developed house brands to boost profitability and this move contributed 5% of overall sales for these retailers on average, the Shanghai Daily reports.
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