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Spotlight on China Retail 2018

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Spotlight on China Retail 2018 Contents Executive Summary 01 Issue 1| General Retail 10 Issue 2| E-commerce 37 Issue 3| Department stores 59 Issue 4| Shopping Malls 74 Issue 5| Hypermarkets/ Supermarkets 91 Issue 6| Convenience Stores 105 Issue 7| Luxury Market 118 Issue 8| Cross-border E-commerce (Import) 135 Issue 9| Retail and E-commerce Logistics 160 Spotlight on China Retail 1 1 Spotlight on China Retail | Spotlight on China Retail | Issue 1| General Retail Issue 1| General Retail Executive Summary Executive Summary China’s retail sector sees modest growth in 2017; yet China-U.S. trade war is set to dampen consumerChina’s retail sentiment sector sees and modestdrive down growth retail in sales2017; growth yet China. China-U.S. has trade been thewar world’s is set second to dampen-largest retail andconsumer consumer sentiment market after and the U.S.drive since down 2014. retail Total retailsales sales growth of consumer. China has goods been reached the world’s 36.6 trillion second yuan-largest in 2017, retail upand nominal consumerly by market 10.2% after yoy. Inthe 1H18, U.S. sincetotal 2014.retail salesTotal ofretail consumer sales of goods consumer increased goods nominally reached 36.6by 9.4% trillion yoy yuan to reach in 2017, 18.0 trillionup nominal yuan.ly However,by 10.2% yoythe .escalating In 1H18, total China retail-U.S. sales trade of war consumer is set to goods hinder increased economic nominally growth, whichby 9.4% in yoyturn to will reach affect 18.0 consumertrillion yuan. sentiment However, and the consumer escalating spending. China-U.S. China’s trade retailwar is sector set to as hinder a whole economic will be growth,adversely which affected in turn and will is expected affect toconsumer see single sentiment-digit sales and growth consumer in the spending. coming year. China’s retail sector as a whole will be adversely affected and is expected to see single-digit sales growth in the coming year. Millennials and generation Z reshape the retail landscape. Middle class consumers in China, particularly theMillennials millennials and and pgenerationost-millennials Z (orreshape generation the Z) retail, are becoming landscape increasingly. Middle influentialclass consumers in the inretail China, sector particularly. China will havethe millennials the world’s and largest post- middlemillennials class (or population generation by Z) 2027, are, becominga segment increasingly whose strong influential spending in power the retail will sectorreshape. China will consumptionhave the world’s domestically largest middle and internationa class populationlly over by the2027 next, a segment decade. Lwhoseocal and strong international spending retailerspower will are reshape ramping up effortsconsumption to engage domestically more effectively and internationa with theselly influential over the next consumers. decade. ToLocal lure and young international shoppers, retailers brands are are increasingly ramping up turningefforts to to engage young celebritiesmore effectively and influencers with these to influential market their consumers. products To, and lure are young launching shoppers, new brandsproduct are lines increasingly with younger tastesturning. to young celebrities and influencers to market their products, and are launching new product lines with younger tastes. Retailers strive to diversify their product and service offerings and deliver enriched lifestyle shoppingRetailers striveexperience to diversifys. To entice their shoppers, product many and retailers service have offerings expanded and into deliver new sectors enriched and collaborated lifestyle with shoppingother market experience players to expands. To enticeservice shoppers, offerings manyand generate retailers new have revenue expanded stream into s.new Meanwhile, sectors and to meetcollaborated the higher with expectationsother market ofplayers today’s to consumers,expand service more offerings and more and retailers generate -- especiallynew revenue department streams. storesMeanwhile, and shopping to meet mallthe higher operatorsexpectations -- hav of today’se upgraded consumers, by introduc moreing and new more and retailersinnovative -- especiallyconcept stores department and more stores lifestyle and shoppingservices. mall operators -- have upgraded by introducing new and innovative concept stores and more lifestyle services. O2O continues to dominate the retail scene. Pursuit of online-to-offline (O2O) strategies has become a preoccupationO2O continue fors mostto dominate brands and the retailers. retail Many scene traditional. Pursui tre oftailers online in-to China-offline have (O2O actively) strategies pursued has digital become expansion a andpreoccupation deployed O2O for most strategies brands to and ensure retailers. seamless Many integration traditional of re alltailers channels in China -- physical, have actively online, pursued mobile anddigital social. expansion At the sameand deployed time, some O2O leading strategies e-commerce to ensure companies seamless integration and “pure- clicksof all ”channels enterprises -- physical, have tiptoed online, into mobile bricks and-and social.-mortar At thein thesame hope time, of someproviding leading a better e-commerce shopping companies experience. and “pure-clicks” enterprises have tiptoed into bricks-and-mortar in the hope of providing a better shopping experience. Use of smart technologies gains steam. China’s retail sector is being redefined by a new wave of technologies toUse facilitate of smart O2O technologiesintegration while gains significantly steam enhancing. China’s retail customer sector experience. is being redefined A multitude by a ofnew technology wave of technologies-driven businessto facilitate models O2O andintegration business while formats significantly has emerged enhancing recently customer. Digitized experience. experiential A multitude stores and of AI technology-driven pop-driven-up stores, unmannedbusiness models stores and are business example formatss. has emerged recently. Digitized experiential stores and AI-driven pop-up stores, unmanned stores are examples. Pop-up retailing comes on the scene. Pop-up retailing has gained popularity in recent years, with brands and retailersPop-up opening retailing pop comes-up stores on backed the scene by innovative. Pop-up marketing retailing has content gained to popularity promote products in recent and years, raise with awareness. brands and Sretailersome also opening use the pop pop-up-up stores format backed to test by new innovative technologies, marketing concepts content and to collections promote ,products and to gain and market raise awareness. insights. One of theSome major also advantagesuse the pop of-up pop format-up retailing to test newis that technologies, the set-up costs concepts are far and lower collections than for, and permanent to gain market stores insightswith long. One-term of leases.the major advantages of pop-up retailing is that the set-up costs are far lower than for permanent stores with long-term leases. Executive Summary | 1 Executive Summary Executive Summary Spotlight on China Retail 2 2 Spotlight on China Retail | Spotlight on China Retail | ssue -commr ssue -commr i ar i ar China’s online retail market conins t riv ecnomi growth. China’s online retail market, the world’s largesChina’st, has online shown r reetailsilien markett growth coninsdespite a slowing t ri econov emy.cnomi The transaction growth val. China’sue of China’s online orenlinetail market, retail marke the wt orld’s largesincreasedt, has shown yo rey tosilien reacht growth trillion despite yu aan slowing in 2017 econo Thismy. rap idThe growth transaction is attr ibutablevalue of China’smainly toonline China’s retail large marke populationt increasedof nterne t users yoanyd tothe re earlachy adoption trillion o yuf mobilean in 2017 shopping This byrap Chineseid growth consumers is attributable obile main commercely to China’s accounted large population for of nterne of totalt users online and sthoppinghe early atrdansactionsoption of mobile in 2017. shopping by Chinese consumers obile commerce accounted for of total online shopping transactions in 2017. E-commerc iants sriv t increase offlin rsene an exan thir ecosystes With the rise of omnichannelE-commerc retailing, iants e -scommerceriv t i gncreaseiants are acofflintively penetrating rsene offlinean ex retailingan withthir th ece ideaosystes of perfecting With their the ri se of omnichannelphysical retail retailing, networks e an-commerced further expandinggiants are actheitivelyr business penetrating ecosystems offline. retailingAlibaba andwith J D.com,the idea in of p articulaperfectingr, have their acceleratedphysical retail the networks pace of theiand rfur offlinether expandingexpansion theiby mergingr business with ecosystems or acquiring. Alibaba physical and retailers. JD.com, They in particula hope tor, bhuildave an all- encompassingaccelerated the business pace of etheicosystemr offline that expansion fully blends by merging online anwithd o offliner acquiring channels physical so as retailers.to become They ubiquitous hope to anbuildd an all- indispensableencompassing inbusiness the daily ecosystem life of all thatChinese fully c onsumersblends online. and offline channels so as to become ubiquitous and indispensable in the daily life of all Chinese consumers. Socia ommerce becos increasingly popular; shr ideo atfors acilia iia aring SociaEying th ommercee high level o fbe consumercos penetrationincreasingly by social popular; media s platformshr ideo such a as tforseChat,
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