Latest News- Retail Market in China: Food and beverages is expected to lead the Product segment during 2025-2029

The Retail Market in China is being driven by Premiumization of products

The Retail Market in China is expected to grow at a CAGR of 8.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 1421.1 billion. In China's retail market, omnichannel retailing is gaining traction as vendors recognize the significance of this strategy in maximizing product exposure. This approach combines various distribution channels, including brick-and-mortar stores, mobile stores, online stores, mobile app stores, and telephone sales, to boost customer engagement. While the adoption of omnichannel retailing is growing, it remains relatively low compared to developed markets. Simultaneously, the e-commerce sector in China is thriving, with major and small brands increasingly establishing an online presence. The burgeoning trend of online banking and improving internet connectivity further underscores the immense potential of the online channel for retailers over the next five years. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Food and beverages
  • Apparel and footwear
  • Home improvement
  • Consumer electronics and appliances
  • Beauty and personal care
• Distribution Channel
  • Offline
  • Online
• Geography
  • China

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Premiumization of products
• Growing popularity of private-label brands
• Value-added service

However, the market also witnesses some limitations, which are as follows:

• Rampant counterfeiting in premium segment
• Criticality in inventory, supply chain, and merchandising management
• High competition from unorganized retailers

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Market Scope in Retail Market in China Research Report

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Research Analysis Overview

The Retail Market in China is experiencing significant growth, driven by Internet Giants and increasing disposable incomes. Consumer spending is shifting towards online shopping due to high smartphone penetration and the convenience of e-commerce channels. IoT, augmented reality, and mobile-first sites are transforming the retail landscape. Brick-and-mortar stores remain relevant, offering personalized services, return policies, and exchange policies. The retail e-commerce market leads in sales of goods such as toys, stationery, pet supplies, and fresh groceries. Economic growth and social interaction continue to fuel demand for both online and offline retail.

Market Research Overview

The retail market in China is experiencing significant growth, driven by the increasing adoption of advanced mobile devices and high Internet penetration. According to Technavio, the global broadline retail market, which encompasses revenue from internet retailing service providers, third-party online retail platforms, door-to-door retailing services, department stores, and general merchandise companies, is expected to expand. This growth is attributed to the proliferation of smartphones and the Internet, enabling consumers to engage in online shopping through e-commerce channels, IoT, and augmented reality. Brick-and-mortar stores continue to play a role in the retail landscape, but the shift towards digital commerce is undeniable. The disposable income of Chinese consumers and their propensity to spend are key factors fueling this market expansion.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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