FBI-2017和208年中国零售业和中国消费者（英文）-2019.1-176页.pdf

ContentsExecutive SummaryIssue 1|General RetailIssue 2|E-commerceIssue 3|Department storesIssue 4|Shopping MallsIssue 5|Hypermarkets/SupermarketsIssue 6|Convenience StoresIssue 7|Luxury MarketIssue 8|Cross-border E-commerce(Import)Issue 9|Retail and E-commerce Logistics011037597491105118135160Spotlight on China Retail Executive Summary|1Spotlight on China Retail|Issue 1|General Retail Executive Summary Chinas retail sector sees modest growth in 2017;yet China-U.S.trade war is set to dampen consumer sentiment and drive down retail sales growth.China has been the worlds second-largest retail and consumer market after the U.S.since 2014.Total retail sales of consumer goods reached 36.6 trillion yuan in 2017,up nominally by 10.2%yoy.In 1H18,total retail sales of consumer goods increased nominally by 9.4%yoy to reach 18.0 trillion yuan.However,the escalating China-U.S.trade war is set to hinder economic growth,which in turn will affect consumer sentiment and consumer spending.Chinas retail sector as a whole will be adversely affected and is expected to see single-digit sales growth in the coming year.Millennials and generation Z reshape the retail landscape.Middle class consumers in China,particularly the millennials and post-millennials(or generation Z),are becoming increasingly influential in the retail sector.China will have the worlds largest middle class population by 2027,a segment whose strong spending power will reshape consumption domestically and internationally over the next decade.Local and international retailers are ramping up efforts to engage more effectively with these influential consumers.To lure young shoppers,brands are increasingly turning to young celebrities and influencers to market their products,and are launching new product lines with younger tastes.Retailers strive to diversify their product and service offerings and deliver enriched lifestyle shopping experiences.To entice shoppers,many retailers have expanded into new sectors and collaborated with other market players to expand service offerings and generate new revenue streams.Meanwhile,to meet the higher expectations of todays consumers,more and more retailers-especially department stores and shopping mall operators-have upgraded by introducing new and innovative concept stores and more lifestyle services.O2O continues to dominate the retail scene.Pursuit of online-to-offline(O2O)strategies has become a preoccupation for most brands and retailers.Many traditional retailers in China have actively pursued digital expansion and deployed O2O strategies to ensure seamless integration of all channels-physical,online,mobile and social.At the same time,some leading e-commerce companies and“pure-clicks”enterprises have tiptoed into bricks-and-mortar in the hope of providing a better shopping experience.Use of smart technologies gains steam.Chinas retail sector is being redefined by a new wave of technologies to facilitate O2O integration while significantly enhancing customer experience.A multitude of technology-driven business models and business formats has emerged recently.Digitized experiential stores and AI-driven pop-up stores,unmanned stores are examples.Pop-up retailing comes on the scene.Pop-up retailing has gained popularity in recent years,with brands and retailers opening pop-up stores backed by innovative marketing content to promote products and raise awareness.Some also use the pop-up format to test new technologies,concepts and collections,and to gain market insights.One of the major advantages of pop-up retailing is that the set-up costs are far lower than for permanent stores with long-term leases.Spotlight on China Retail Executive Summary|2Spotlight on China Retail|Issue 2|E-commerce Executive Summary Chinas online retail market continues to drive economic growth.Chinas online retail market,the worlds largest,has shown resilient growth despite a slowing economy.The transaction value of Chinas online retail market increased 32.2%yoy to reach 7.18 trillion yuan in 2017.This rapid growth is attributable mainly to Chinas large population of Internet users and the early adoption of mobile shopping by Chinese consumers.Mobile commerce accounted for 81.3%of total online shopping transactions in 2017.E-commerce giants strive to increase offline presence and expand their ecosystems.With the rise ofomnichannel retailing,e-commerce giants are actively penetrating offline retailing with the idea of perfecting their physical retail networks and further expanding their business ecosystems.Alibaba and JD.com,in particular,have accelerated the pace of their offline expansion by merging with or acquiring physical retailers.They hope to build an all-encompassing business ecosystem that fully blends online and offline channels so as to become ubiquitous and indispensable in the daily life of all Chinese consumers.Social commerce becomes increasingly popular;short video platforms facilitate digital marketing.Eying the high level of consumer penetration by social media platforms such as WeChat,Weibo,Pinduoduo,and live-streaming and short video platforms,such as Douyin,brands and retailers are increasingly trying to sell and market their products via these channels.E-commerce players and Internet giants launch their own private labels.Some e-commerce companieshave taken bold initiatives to launch their own private labels to offer consumers quality,premium and personalized products and services.NetEase,Alibaba,JD.com,Tencent,Xiaomi and M are cases in point.Some e-commerce companies have even set up physical stores to sell their own private labels.Rural e-commerce continues to thrive.The rural online retail market has become a new growth engine for e-commerce in China with the near saturation of the urban online market.The government has been very supportive of this development.Recognizing the ample growth potential of the rural e-commerce market,leading retailers and e-commerce companies have adopted“going rural”strategies.Chinas first E-commerce Law launches.The E-commerce Law,which is to take effect on 1 January 2019,is designed to safeguard the legitimate rights and interests of all parties involved in e-commerce;to regulate e-commerce practices;maintain the sound order of the market,and foster the further development of e-commerce in a manner that is sustainable and healthy.Spotlight on China Retail Executive Summary|3Spotlight on China Retail|Issue 3|Department Stores Executive Summary Department store sector maintains stable sales growth;new store openings continue.Chinas department store sector witnessed positive and stable growth in the past year.According to the NBS,retail sales of department stores above a designated size(enterprises with annual sales of 5 million yuan or above and with employee strength of 60 or more)increased by 4.6%yoy in 1H18.MOFCOM statistics also show that the yoy growth of 5,000 key retailers reached 4.6%in 1H18,with department stores accounting for 4.5%yoy.In terms of new store openings,over the past two years,the number of newly opened department stores was still slightly more than that of department stores which were closed or revamped,resulting in a net rise.Transformation efforts have started to pay off.Recently,the department store sector has made every effort to transform and adjust to keep pace with changing consumer needs,whether through the upgrade of hardware and stores,the refinement of merchandise and services,supply chain integration,or the restructuring of business models and operating systems.The sector as a whole has started to reap the benefits.According to a survey by the China Commerce Association for General Merchandise,nearly 65%of 85 department stores surveyed enjoyed positive yoy sales growth in 2017.Leveraging technologies to pursue O2O integration;forming partnerships with Internet companies and e-commerce players is common practice.Many department store operators have adopted advanced technologies such as mobile Internet,big data,the IoT(Internet of Things)and even AI to achieve O2O integration-namely,a seamless integration across physical stores,online platforms and mobile terminals-along with digital transformation.Meanwhile,increasing numbers of department store operators have formed strategic alliances with Internet or large-scale e-commerce companies to roll out O2O initiatives that leverage the latters huge traffic resources,big data as well as logistics capabilities.Diversifying retail formats and tapping into other business sectors.To adapt to the changing needs of consumers,more and more department stores have sought to expand their scope of business and engage in multi-format,multi-sector operations.For example,in recent years Golden Eagle Retail Group has launched boutique supermarkets,bookstores,pet stores and beauty stores,to meet the discerning needs of middle class consumers.Recognizing the fast growth potential of convenience stores,players such as Wangfujing Group,Rainbow Department Store and New World Department Store have tapped into the convenience store segment,launching their own convenience store brands.Offering additional sales channels to enhance product uniqueness and gross profit margins.To enhance product and service uniqueness and provide customers with a differentiated shopping experience,many department store operators have expedited the expansion of direct sales business.Some operators such as the Bailian Group,Wangfujing Group,Wanda Department Store and New World Department Store have taken even bolder steps by developing their own private labels and set up buyer(multi-brand)shops to sell exclusive brands and private labels.Spotlight on China Retail Executive Summary|4Shopping malls sector maintains robust development.In 2017,most large-scale shopping malls in China delivered a positive sales performance.According to iziRetail,the total sales of 190 such centers across 51 cities in China reached 441.3 billion yuan in 2017,up 11.3%yoy.A study by Linkshop also shows that the top 20 shopping malls in China all achieved positive yoy sales growth in 2017.Shopping mall operators shift to more consumer-centric business models.In recent years,increasing numbers of mall operators have changed their mindset and transformed their operations and business models by adopting a more consumer-centric approach.Many shopping malls have endeavored to strengthen their physical assets in all aspects including upgrading hardware and facilities,reconfiguring unit layouts,refining tenant mixes,as well as enhancing in-mall service facilities.They are also responding swiftly to consumers needs by providing more interactive features in the mall,including entertainment,leisure activities,a variety of food options and unique concepts that differentiate their offerings.Exploring new development concepts.Shopping mall operators in China have actively been exploring new development concepts.A trend is emerging of“shopping mall+shopping precinct”(or“streetscaped”)malls with Sanlitun Taikoo Li as a successful forerunner,followed by Chengdu Taikoo Li,and the recently opened MIXc World and UpperHills in Shenzhen.The new concept features a combination of indoor and outdoor elements,with a shopping center plus a pedestrian area that has shops and restaurants all within a landscaped environment.It can create a unique ambiance for shopping and bring consumers a special experience.Leveraging technologies and multichannel strategies to transform the mall experience.Many shopping mall operators realize that the best way to deal with rapid technological change is to embrace it.They are utilizing digital capabilities to take the shopping experience to the next level.Beyond providing basic services such as free WiFi;accepting mobile payments,and running different promotions to encourage social media engagement,mall operators are adopting in-mall technologies such as AI-powered services to improve the omnichannel experience and strengthen relationships with consumers.E-commerce giants make forays into shopping mall sector.Recently,the shopping mall sector in China has seen the emergence of a new competitive landscape with the entrance of e-commerce giants.The opening in April 2018 of the Alibaba Groups first bricks-and-mortar shopping mall,in Hangzhou,is a major step by the Group towards achieving its goal of blending digital prowess with a footprint in the physical world.Spotlight on China Retail|Issue 4|Shopping malls Executive Summary Spotlight on China Retail Executive Summary|5Executive SummaryHypermarket and supermarket operators see improvement in sales growth.In recent years,the hypermarket and supermarket sector has faced fierce competition from the e-commerce sector as well as from smaller-scale retail formats such as convenience stores,community stores and specialty stores.That being said,many hypermarket and supermarket operators have stepped up efforts to revamp their operations to cater the changing needs of Chinese consumers.Their efforts have paid off with solid improvements in sales performance.The sales growth of supermarkets above a designated size(enterprises with annual sales of 5 million yuan or above and with employee strength of 60 or more)was 7.4%yoy in 1H18,up from 6.3%yoy in 1H17.Most of the top hypermarket and supermarket chain operators in China achieved a better performance in 2017 than in 2016,thanks both to new store openings and format expansion.Players are adapting to“New Consumption”era.Over the past year,many traditional hypermarket and supermarket operators have proactively adapted themselves to the“New Consumption”era.Many have used data analytics to increase store traffic and offer more targeted promotions to shoppers.Some have integrated their inventory and supply chain management systems with e-commerce or solutions platforms to improve warehouse management,inventory planning and last-mile delivery.Others have invested in technologies and launched“smart stores”to create a better in-store experience and higher level of interaction with shoppers.Meanwhile,many hypermarket and supermarket chain operators have partnered with third-party O2O local lifestyle service platforms,such as JD Daojia and Dmall,to provide O2O shopping and speedy delivery services.Format revamp is gaining traction.Many hypermarket and supermarket chain operators have revamped their stores or launched new store formats(e.g.smaller-sized format and fresh-food supermarkets)to better suit the changing needs of customers.They have also created more spaces for occasion-or experience-based activities(e.g.,in-store dining)to improve customer stickiness.Putting strong effort into developing private labels.A number of hypermarket and supermarket chains have launched their own private labels in recent years.The profit margin for those who have done so is 15%higher.Developing private labels is thus winning strategy for hypermarkets and supermarkets that wish to differentiate themselves from their peers