2014-03-11 04:21:01 - Mixed Retailers in China - a new market research report on companiesandmarkets.com
Dashang Group ranked number one in the China mixed retailers market in 2012, which can be attributed to its outstanding performance in the department stores category. Its aggressive expansion strategy has enabled the group to achieve a total value share of over 2% in 2012 in the highly fragmented mixed retailing market, which is seeing increasingly fierce competition. Through mergers and acquisitions, Dashang Group quickly developed from its home base in Northeast China to North China and more recently to West China, by acquiring My Homart from New Hope Group in Sichuan province.
The overall retailing market continued to see robust current value growth in China in 2012, mainly thanks to the growing disposable incomes arising from steady GDP growth. Locals´
changing attitudes towards consumption, particularly young consumers´ much more open attitudes towards spending money, have also fuelled retailing growth. Mixed retailers, led by department stores, are important and traditional shopping venues for Chinese consumers, and registered 13% current value growth in 2012, outperforming the total retailing growth in China.
Mixed retailers are expected to continue to see strong growth, with a constant value CAGR of 10% over the forecast period. Ongoing urbanisation, rising disposable incomes and the increasing penetration of chained operations into lower-tier cities and affluent rural areas will be the major driving forces. Department stores will remain the dominant format in mixed retailers, thanks to their long-established reputation of wide product ranges and a more premium market positioning.
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