Retail Market in China to grow by USD 1,207.55 billion from 2022 to 2027|Growing popularity of private-label brands to boost the market growth - Technavio

NEW YORK, July 20, 2023 /PRNewswire/ -- The retail market in China size is set to grow by USD 1,207.55 billion between 2022 and 2027 and register an accelerating CAGR of 8.64%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read our Sample Report

The report also covers the following areas:

• Retail Market in China size
• Retail Market in China trends
• Retail Market in China industry analysis

Retail Market in China 2023-2027: Segmentation

The retail market in China is segmented as follows:

• Product 
• Food And Beverages
• Apparel And Footwear
• Home Improvement
• Consumer Electronics And Appliances
• Beauty And Personal Care
• Distribution Channel
• Offline
• Online
• The market share growth by the food and beverages segment is significant during the forecast period. The food and beverage industry is one of the largest sectors in China which is significantly contributing to its economy in terms of financial gain and employment opportunities. There are several varying market participants in this industry, especially many multinational corporations being the main players in the FMCG segment. Some of the key sub-segments which are experiencing high growth include dairy, beef, wine, grains, fruits, and vegetables. Furthermore, there is an increasing preference for convenience stores among lower-middle-class consumers when compared to hypermarkets, especially in third and fourth-tier cities. On the other hand, most hypermarkets are located in first-tier cities where the main consumer segment is upper and middle-class consumers. Hence, such factors are expected to drive the retail market in China during the forecast period.

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Retail Market in China 2023-2027: Vendor Analysis and Scope

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 15+ vendors operating in the market. Some of the major vendors of the retail market in China include Alibaba Group Holding Ltd., Beijing Dangdang Kewen Electronic Commerce Co. Ltd., CK Hutchison Holdings Ltd., GOME Retail Holdings Ltd., JD.com Inc., Lotte Corp., PetroChina Co. Ltd., Sun Art Retail Group Ltd., Vipshop Holdings Ltd., Walmart Inc., Yonghui Superstores Co. Ltd., Quanlian Industrial Co. Ltd., President Chain Store Corp., Pinduoduo Inc., E Mart Co. Ltd., DFI Retail Group, China Resources Enterprise Ltd., Bailian Group, and Suning.com Co. Ltd.

Vendor Offerings

• Alibaba Group Holding Ltd: The company provides fundamental technology infrastructure services to merchants, brands, retailers, and businesses to market.
• Beijing Dangdang Kewen Electronic Commerce Co. Ltd: The company offers department stores, shopping malls, outlets, large stores, supermarkets, convenience stores, and specialty retail formats.
• CK Hutchison Holdings Ltd: The company offers household merchandise, cosmetics, digital, home appliances, books, audio, and clothing.

Retail Market in China 2023-2027: Market Dynamics

Key Drivers

The increasing popularity of private-label brands drives the retail market in China during the forecast period. There is a rising focus on private-label products by retailers across China. Several retailers in the market are providing a wide variety of consumer goods under their private-label brands in order to increase their profitability. Hence, there is a significant expansion of the retail market in China which is positively impacting the market growth. Some prominent retailers in China are leveraging the increasing consumer demand by launching a portfolio of packaged foods, drinks, and personal care items. For example, some offline distribution channels, such as supermarket chains, have started offering private-label products more shelf space and are executing internal marketing and promotional campaigns. Hence, such factors are expected to drive the retail market in China during the forecast period.

Major Trends

Innovation in in-store retailing is a primary trend shaping the retail market in China during the forecast period. Due to the emergence of digitalization, several retailers are offering personalized services to customers. Most supermarket and hypermarket chains in China are expanding their presence online in order to have a competitive edge against online subscription models provided by e-commerce companies like Amazon, which allow customers to stock up on repeat purchases. Furthermore, retailers are using innovative strategic methods to connect with their in-store customers such that customers are able to find the items they want to buy with the help of mobile applications. Hence, such factors are expected to drive market growth during the forecast period.

Significant Challenge

High competition from unorganized retailers is a significant challenge hindering market growth during the forecast period. Unorganized, high-volume retailers can be referred to as those retailers that are not registered with the government. There is significant competition for well-established retailers in China's market from unorganized retailers, mainly in the food and beverage and apparel segment. These unorganized retailers offer goods that are comparable to those offered by the nation's organized vendors. Price and branding are the main two factors that differentiate organized from unorganized retailers. Some of the main competition areas for market vendors include price, quality, brand recognition, and customer service. Furthermore, most of the unorganized players leverage low prices to attract consumers instead of quality as they have low overhead and investment needs. Hence, such factors are expected to hinder the retail market growth in China during the forecast period.

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Retail Market in China 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist the retail market growth in China during the next five years
• Estimation of the retail market in China size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the retail market in China
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of the retail market vendors in China

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Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Country Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 07: Parent market
• Exhibit 08: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 09: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 10: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 11: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 12: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 13: Chart on China: Year-over-year growth 2022-2027 (%)
• Exhibit 14: Data Table on China: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Retail market in China 2017 - 2021 
• Exhibit 15: Historic Market Size – Data Table on Retail market in China 2017 - 2021 ($ billion)

• 4.2 Product Segment Analysis 2017 - 2021 
• Exhibit 16: Historic Market Size – Product Segment 2017 - 2021 ($ billion)

• 4.3 Distribution Channel Segment Analysis 2017 - 2021 
• Exhibit 17: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 18: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments
• Exhibit 25: Chart on Product - Market share 2022-2027 (%)
• Exhibit 26: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 27: Chart on Comparison by Product
• Exhibit 28: Data Table on Comparison by Product

• 6.3 Food and beverages - Market size and forecast 2022-2027 
• Exhibit 29: Chart on Food and beverages - Market size and forecast 2022-2027 ($ billion)
• Exhibit 30: Data Table on Food and beverages - Market size and forecast 2022-2027 ($ billion)
• Exhibit 31: Chart on Food and beverages - Year-over-year growth 2022-2027 (%)
• Exhibit 32: Data Table on Food and beverages - Year-over-year growth 2022-2027 (%)

• 6.4 Apparel and footwear - Market size and forecast 2022-2027 
• Exhibit 33: Chart on Apparel and footwear - Market size and forecast 2022-2027 ($ billion)
• Exhibit 34: Data Table on Apparel and footwear - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Chart on Apparel and footwear - Year-over-year growth 2022-2027 (%)
• Exhibit 36: Data Table on Apparel and footwear - Year-over-year growth 2022-2027 (%)

• 6.5 Home improvement - Market size and forecast 2022-2027 
• Exhibit 37: Chart on Home improvement - Market size and forecast 2022-2027 ($ billion)
• Exhibit 38: Data Table on Home improvement - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Chart on Home improvement - Year-over-year growth 2022-2027 (%)
• Exhibit 40: Data Table on Home improvement - Year-over-year growth 2022-2027 (%)

• 6.6 Consumer electronics and appliances - Market size and forecast 2022-2027 
• Exhibit 41: Chart on Consumer electronics and appliances - Market size and forecast 2022-2027 ($ billion)
• Exhibit 42: Data Table on Consumer electronics and appliances - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Chart on Consumer electronics and appliances - Year-over-year growth 2022-2027 (%)
• Exhibit 44: Data Table on Consumer electronics and appliances - Year-over-year growth 2022-2027 (%)

• 6.7 Beauty and personal care - Market size and forecast 2022-2027 
• Exhibit 45: Chart on Beauty and personal care - Market size and forecast 2022-2027 ($ billion)
• Exhibit 46: Data Table on Beauty and personal care - Market size and forecast 2022-2027 ($ billion)
• Exhibit 47: Chart on Beauty and personal care - Year-over-year growth 2022-2027 (%)
• Exhibit 48: Data Table on Beauty and personal care - Year-over-year growth 2022-2027 (%)

• 6.8 Market opportunity by Product 
• Exhibit 49: Market opportunity by Product ($ billion)
• Exhibit 50: Data Table on Market opportunity by Product ($ billion)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments
• Exhibit 51: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 52: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 53: Chart on Comparison by Distribution Channel
• Exhibit 54: Data Table on Comparison by Distribution Channel

• 7.3 Offline - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 7.4 Online - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 60: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel 
• Exhibit 63: Market opportunity by Distribution Channel ($ billion)
• Exhibit 64: Data Table on Market opportunity by Distribution Channel ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 65: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges 
• Exhibit 66: Impact of drivers and challenges in 2022 and 2027

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape
• Exhibit 67: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption
• Exhibit 68: Overview on factors of disruption

• 10.4 Industry risks
• Exhibit 69: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered
• Exhibit 70: Vendors covered

• 11.2 Market positioning of vendors 
• Exhibit 71: Matrix on vendor position and classification

• 11.3 Alibaba Group Holding Ltd. 
• Exhibit 72: Alibaba Group Holding Ltd. - Overview
• Exhibit 73: Alibaba Group Holding Ltd. - Business segments
• Exhibit 74: Alibaba Group Holding Ltd. - Key offerings
• Exhibit 75: Alibaba Group Holding Ltd. - Segment focus

• 11.4 Bailian Group
• Exhibit 76: Bailian Group - Overview
• Exhibit 77: Bailian Group - Product / Service
• Exhibit 78: Bailian Group - Key offerings

• 11.5 Beijing Dangdang Kewen Electronic Commerce Co. Ltd. 
• Exhibit 79: Beijing Dangdang Kewen Electronic Commerce Co. Ltd. - Overview
• Exhibit 80: Beijing Dangdang Kewen Electronic Commerce Co. Ltd. - Product / Service
• Exhibit 81: Beijing Dangdang Kewen Electronic Commerce Co. Ltd. - Key offerings

• 11.6 CK Hutchison Holdings Ltd. 
• Exhibit 82: CK Hutchison Holdings Ltd. - Overview
• Exhibit 83: CK Hutchison Holdings Ltd. - Business segments
• Exhibit 84: CK Hutchison Holdings Ltd. - Key news
• Exhibit 85: CK Hutchison Holdings Ltd. - Key offerings
• Exhibit 86: CK Hutchison Holdings Ltd. - Segment focus

• 11.7 E Mart Co. Ltd.
• Exhibit 87: E Mart Co. Ltd. - Overview
• Exhibit 88: E Mart Co. Ltd. - Product / Service
• Exhibit 89: E Mart Co. Ltd. - Key offerings

• 11.8 GOME Retail Holdings Ltd. 
• Exhibit 90: GOME Retail Holdings Ltd. - Overview
• Exhibit 91: GOME Retail Holdings Ltd. - Product / Service
• Exhibit 92: GOME Retail Holdings Ltd. - Key offerings

• 11.9 JD.com Inc.
• Exhibit 93: JD.com Inc. - Overview
• Exhibit 94: JD.com Inc. - Business segments
• Exhibit 95: JD.com Inc. - Key news
• Exhibit 96: JD.com Inc. - Key offerings
• Exhibit 97: JD.com Inc. - Segment focus

• 11.10 Lotte Corp.
• Exhibit 98: Lotte Corp. - Overview
• Exhibit 99: Lotte Corp. - Business segments
• Exhibit 100: Lotte Corp. - Key offerings
• Exhibit 101: Lotte Corp. - Segment focus

• 11.11 PetroChina Co. Ltd.
• Exhibit 102: PetroChina Co. Ltd. - Overview
• Exhibit 103: PetroChina Co. Ltd. - Business segments
• Exhibit 104: PetroChina Co. Ltd. - Key offerings
• Exhibit 105: PetroChina Co. Ltd. - Segment focus

• 11.12 Pinduoduo Inc.
• Exhibit 106: Pinduoduo Inc. - Overview
• Exhibit 107: Pinduoduo Inc. - Product / Service
• Exhibit 108: Pinduoduo Inc. - Key offerings

• 11.13 Quanlian Industrial Co. Ltd. 
• Exhibit 109: Quanlian Industrial Co. Ltd. - Overview
• Exhibit 110: Quanlian Industrial Co. Ltd. - Product / Service
• Exhibit 111: Quanlian Industrial Co. Ltd. - Key offerings

• 11.14 Sun Art Retail Group Ltd. 
• Exhibit 112: Sun Art Retail Group Ltd. - Overview
• Exhibit 113: Sun Art Retail Group Ltd. - Product / Service
• Exhibit 114: Sun Art Retail Group Ltd. - Key offerings

• 11.15 Vipshop Holdings Ltd. 
• Exhibit 115: Vipshop Holdings Ltd. - Overview
• Exhibit 116: Vipshop Holdings Ltd. - Business segments
• Exhibit 117: Vipshop Holdings Ltd. - Key offerings
• Exhibit 118: Vipshop Holdings Ltd. - Segment focus

• 11.16 Walmart Inc.
• Exhibit 119: Walmart Inc. - Overview
• Exhibit 120: Walmart Inc. - Business segments
• Exhibit 121: Walmart Inc. - Key news
• Exhibit 122: Walmart Inc. - Key offerings
• Exhibit 123: Walmart Inc. - Segment focus

• 11.17 Yonghui Superstores Co. Ltd. 
• Exhibit 124: Yonghui Superstores Co. Ltd. - Overview
• Exhibit 125: Yonghui Superstores Co. Ltd. - Product / Service
• Exhibit 126: Yonghui Superstores Co. Ltd. - Key offerings

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist 
• Exhibit 127: Inclusions checklist
• Exhibit 128: Exclusions checklist

• 12.3 Currency conversion rates for US$ 
• Exhibit 129: Currency conversion rates for US$

• 12.4 Research methodology
• Exhibit 130: Research methodology
• Exhibit 131: Validation techniques employed for market sizing
• Exhibit 132: Information sources

• 12.5 List of abbreviations 
• Exhibit 133: List of abbreviations

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