Industry Analysis & Industry Trends
Over the past five years, industry revenue is forecast to grow 9.5% per annum. In 2010, industry revenue increased by 12.3% to $68.43 billion, rebounding strongly from 2009. The global financial crisis hurt demand for mid-range and luxury goods in 2009. However, the recovering domestic economy and constantly rising CPI levels in 2010 have stimulated rapid revenue growth during the year.
With the implementation of new income tax law for individuals in September, per capita disposable income will increase faster and more consumption power will release. The General Merchandise Retailing (including Department Stores) industry in China will benefit from the moderate inflationary level in 2011, increased personal consumption level and growing number of total stores.... purchase to read more
Industry Report - Industry Locations Chapter
Industry operations are mainly located in the economically-developed and coastal provincial areas, such as Shanghai, Guangdong, Beijing, Jiangsu and Shandong. These five provinces jointly accounted for 50.2% to total industry revenue in 2010. This is primarily due to the largest consumer group, high income levels, and good business and infrastructure conditions in these provinces.
Shanghai
Shanghai is the largest business center in China, and has the highest personal average GDP among all provinces in the country. Also having the highest consumption level, there are a great number of high-end luxury stores, fashion stores and shopping malls in Shanghai. The largest player in this industry, Shanghai Bailian Group, is located in this region... purchase to read more