Dublin, March 19, 2019 (GLOBE NEWSWIRE) -- The "China Retail Sector - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The Chinese retail sector is projected to witness a CAGR of 10.6% by 2024. The market is segmented by product category, distribution channel, and market dynamics.
China's economy appears to be stabilizing gradually, boosted by rising industrial production and higher foreign currency reserves. However, questions loom large over its market status and sovereign risk rating. Chinese retail sales were up by 9% in 2018 versus a year earlier, roughly in line with that reported in the past year.
The value of outstanding loans in China increased by 12.9%. This was actually a relatively slow rate of growth, when compared to that of the past several years.
From January to September 2018, the retail sales of consumer goods in urban areas was up by 9.1% year-on-year, while that in rural areas was up by 10.4%.
China Internet Giants were at the heart of digital retail and they also have been the ones to usher in the new retail era.
Key Market Trends
Chinese Consumers are Willing to Pay for Higher Quality & Unique Experience Products
Retail sales in rural areas grew by 9% this year, about 1-2 percentage points faster than that in urban areas.
Chinese shoppers continue to flock to Western brands, but they are not just seeking out aspirational names in fashion and technology.
Millions of China's shoppers are also looking to buy everyday items, such as food and personal care products, from international brands, and they are turning to online marketplaces to buy these products directly from overseas brands and retailers.
Chinese demand for imported international brands has created a huge, high-growth market for cross-border e-commerce.
Approximately 24% of China's digital shoppers had made a cross-border purchase this year, lifting the market's value by 15% year over year, to USD 115.5 billion. However, that means three-quarter of the country's online consumers will not be shopping across borders this year, suggesting that there is still plenty of opportunities for Western names to generate demand and capture share in China.
There are three primary supports of the growing Chinese demand for imported goods. It is often cheaper for Chinese shoppers to buy Western brands from cross-border platforms than to buy them from Chinese shops.
Most of China's Automobile Production are Passenger Cars
Commercial vehicles make up less than 20% of the auto production market. As passenger cars constitute the bulk of automobile production in China, production, sales, and tariffs changes in foreign ownership may affect this market.
The Chinese automobile market is mainly a joint venture market with both domestic and foreign auto producers producing joint venture brands.
This is a legacy of the first auto manufacturing in China, which started with joint ventures. Local brands did not have a chance to develop.
There might also be a consumption bias on JV brands, since early on, there may have been little trust in local brands, even if the foreign joint venture brands were manufactured in China.
Most automobile companies in China have joint ventures with European and Japanese manufacturers. There are only a few Korean and American joint ventures.
Foreign players have around 60% of sales in the Chinese automobile market, which includes joint ventures. However, one requirement to this are the new energy cars that are being built from scratch recently.
Competitive Landscape
The report covers major international players operating in the Chinese retail sector. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
Topics Covered
1 Introduction
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Research Methodology
2 Scope of Study
3 Market Insights
3.1 Market Overview
3.2 Customer Behavior Analysis
3.3 Industry Attractiveness - Porter's Five Forces Analysis
4 Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Industry Value Chain Analysis
5 Technology Snapshot
6 Market Segmentation
6.1 BY PRODUCT CATEGORY
6.1.1 Food and Beverage and Tobacco Products
6.1.2 Personal and Household Care
6.1.3 Apparel, Footwear and Accessories
6.1.4 Furniture, Toys & Hobby
6.1.5 Industrial and Automotive
6.1.6 Electronic and Household Appliances
6.1.7 Pharmaceuticals, Luxury goods and Others
6.2 BY DISTRIBUTION CHANNEL
6.2.1 Hypermarkets & Supermarkets and Convenience Stores
6.2.2 Specialty Stores
6.2.3 Department Stores
6.2.4 E-commerce
6.2.5 Other Distribution Channels
7 Company Profiles
7.1 RT Mart
7.2 Costco
7.3 E - Mart
7.4 Hi - Living
7.5 Gmarket
7.6 Home Forever
7.7 Lotte Mart
7.8 Kim's club
7.9 Newcore Outlet
7.10 Walmart
8 Investment Analysis on China Retail Sector
9 Future of China Retail Sector
For more information about this report visit https://www.researchandmarkets.com/research/z3gj5x/the_retail_sector?w=12
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