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Vending in China

China vending market: 8% CAGR growth forecast between 2012-17


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2014-03-11 04:30:03 - Vending in China - a new market research report on companiesandmarkets.com

Formerly known as Tianjin Nankai Guard Group Co Ltd, Guard Group Co Ltd takes the lead in the China vending market, with a value share of nearly 12% in 2012. Guard Group was among the first companies to introduce vending into China, through both the production and operation of vending machines in the country. Years of operation in this category have enabled Guard Group to forge an effectively running supply chain for vending, covering manufacturing, service provision and operation solution provision.

Vending represents a very insignificant portion of total retailing in China, of rather less than 1% in 2012. Vending has been facing fierce competition from other retailing formats, in particular convenience stores. Convenience stores provide a convenient place for impulse

 

 

purchases, such as soft drinks, hot drinks and snack food. In addition, many convenience stores offer 24-hour business operation, hence consumers can make purchases at any time.

In spite of the small customer base, vending is expected to maintain its steady growth pace over the forecast period, with a CAGR of 8% in constant value terms between 2012 and 2017. Store-based retailing formats, such as supermarkets/hypermarkets and convenience stores, can meet consumers´ rising demand in China. Business hours for such retailing formats are quite long, particularly convenience stores, with some running 24 hours a day and seven days a week. In addition, the personal service in these store-based retailing formats may also put vending in the shade. Overall, the intensified competition from other retailing formats is expected to lead to the only moderate growth of vending in China over the forecast period.

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