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June 2016, New Delhi • China continues to be the second the largest Duty Free market in 2020 • Online platform will be a key channel for retailing over the next five years. Ken Research announced its latest publication on, “Retailing in China-Market Summary & Forecasts”, offer insights on the changing trends and key issues within the China’s Retail Market.The publication includes an insightful analysis of changing consumer behavior, changing economic and demographic factors, technology innovations, leading domestic and international players, distribution channels and regulatory framework within which China’s Retail Market operates.The aforementioned analysis has been done for 26 products across 12 products categories in the retail market. Global recession slowed down the growth rates in China’s retail market. However, the rapid evolution of China’s economy into a consumption-driven economy still provides for enormous growth opportunities in the retail sector.With increasing in middle income group consumers and rising purchasing power through increased GDP per capita, the demand for retail products are increasing significantly. Also, Chinese consumers are looking for enhanced convenience, security and quality, as well as innovative products and services and takes shopping as a leisure activity.Retailer's expansion plans in tier lll and tier lV cities is also expected to drive further growth in the market.A strong affinity towards brands and increasing fashion consciousness will result in more spending on clothing and footwear. However, spending on Chinese luxury items is expected to slow down due to govt. led opposition and anti-corruption drives adversely impacting practices such as gift-giving. Another important forecast for the China’s retail market is online retailing dominating the other retailing channels over next five years. The reason for this trend can be attributed to growing internet penetration and improved broadcast structure. Chinese consumers are relying on mobiles for online shopping. Hence increased mobile sales along with increased internet and broadcast penetration have led to a surge in the number of online shoppers. The year-on-year growth in online sales in China slowed in 2013, but was still estimated at 42%. It is expected that Chinese e-commerce sales will reach US$650 billion by 2020. Global Retail Market The global retail market has experienced slowdown due to global shocks but despite this,it has been consistently performing better than other parts of the economy. The attention of many retailers has shifted away from large-scale expansion towards improving profitability and achieving greater business efficiency, with a focus on the information technology and supply chain functions in particular.Globalisation has been a key theme in recent years, with North American retailers expanding into Europe and UK retailers pushing into the emerging markets of Europe and the Far East in particular Some of the prominent trends in the global retail market include: • With the saturation in domestic market, retailers have started looking to overseas markets especially in Asia. • Geopolitical developments, including Tie-ups, joint ventures, trade pacts within the regions is facilitating movements of goods and services across international retail markets. • Expectations of e-commerce completely changing the face of retail have failed to materialise. • Convergence is fast becoming the hot issue in the retail sector. • Attempt by retailers, particularly those in the grocery sector, to diversify away from their core product offerings into new product areas. Key Topics Covered in the Report: • Detailed profile of the China’s Retail Market • Consumer demographics, trends and behaviours • Category wise historic and forecast retail sales value & growth in China’s retail market • Key business requirement for operating in China’s retail market • Analysis of impact ofInternet & Technology on China’s Retail Market • Analysis of key distribution channels of China’s retail market • Regulatory framework governing the China’s retail market To know more on coverage, click on the link below: https://www.kenresearch.com/consumer-products-and-retail/wholesale-and-retail/retailing/29891-95.html Related Reports https://www.kenresearch.com/consumer-products-and-retail/wholesale-and-retail/future-retailing-china/21560-95.html https://www.kenresearch.com/consumer-products-and-retail/wholesale-and-retail/food-grocery-retailing/29892-95.html Contact: Ken Research Ankur Gupta, Head Marketing & Communications query@kenresearch.com +91-124-4230204
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