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China's Restaurant Sector Growth Strong (....more) |
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| Updated
- June 18, 2009 |
DESCRIPTION
This report covers the convenience store retailing industry in the People’s Republic of China, including profiles of leading retail chains. |
PRICE
£950 |
EXTRACT FROM
INTRODUCTION
'...Based upon these recalculations of retail sales, and based upon the growth in individual retail sectors as well as more recent macro-economic re-evaluations, Access Asia estimates that between 1999 and 2008, China’s total retail market grew 280.94% in current terms to RMB8.50trn – representing a compound annual growth rate (CAGR) of 16.02% over that period.
China’s convenience stores retailing industry continues to develop rapidly. New chain store networks are now focusing on expanding outside large urban centres as retailers extend their reach into many second- and third-tier cities, as well as into provincial towns and rural villages. In the main cities, overcrowding of the market has led to aggressive consolidation, as larger operators begin to swallow up smaller players.
Most convenience stores are run on a very low margin, and these chains’ inability to innovate in what products and services they provide makes them unable to compete effectively and raise margins. Lack of back-of-store efficiency also hinders competitive development. Thus, many chains are financially vulnerable. Larger chains are beginning to aggressively target competitors who they know cannot compete effectively because of poor liquidity and poor management, in order to take them out of the market, and free up market share.
China’s total convenience store industry, based upon our own estimates themselves based largely on company and China Chainstore and Franchise Association data, comprised nearly 330,000 stores in 2008 (including rural retail development programme stores), with total retail sales valued at RMB100bn, this representing about 8.7% of total retail outlets in China, but only 1.7% of the total value of the retail market in China in 2008. ...' |
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