The growth of China's retail industry has been hindered somewhat by the traditional custom of the Chinese people to make most of their purchases from neighborhood, family-run stores and kiosks. China's most recent retail numbers show that this custom is changing, however.
According to the China Chain Store and Franchise Association, the number of stores of the 100 largest retailers in China increased 18.9% in 2009. The 100 largest retail chains also sold 11% of all consumer goods in China, and experienced a 13.5% year-over-year growth in 2009. The CCFA has predicted that retail sales growth of the largest retail chains will continue to grow in 2010, with an estimated 18% year-over-year growth anticipated.
Global retail companies see the potential in the Chinese retail market as well. More than 25 of the world's largest retailers are conducting business in China, according to the U.S. Department of Commerce. Global retail stores seem to be particularly appealing to the younger generation.
Despite the influx of global retailers, however, Chinese retailers remain dominant and are growing along with the growing Chinese economy. China now has the fourth largest economy in the world, and is closing in on Japan, which had the third largest economy in 2009.
What follows is a list of the retail companies based in China that were included on the 2010 Global Powers of Retailing ranking list. The number in the left column is the global ranking number assigned to the company, based on its sales figures, compared to other top retail organizations worldwide.
Retail Companies Based in the China Ranked Among the 250 Largest Retailers In the World:
90 Bailian (Brilliance) Group
91 Gome Home Appliance Group
125 Suning Appliance Company Ltd.
183 Dalian Dashang Group
248 Nonggongshang Supermarket Group Company Ltd.
More About Chinese Retailing:
- U.S. Chains in China with the Highest Sales
- Store Openings in China in 2010