Sales at China’s top 100 retailers jumped 21% to over CNY1 trillion (US$142.6bn) last year, according to industry figures.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The country’s leading chain stores saw sales reach the landmark figure thanks in part to growth in rural areas, a report from the China Chain Store and Franchise Association said.
Store numbers in rural areas more than doubled to 52,000 in 2007, the Asia Pulse news agency reported.
Home appliance retailer Gome topped the list with sales reach CNY104.2bn, the report said. Supermarket and department store operator Bailian Group took second spot, with sales of CNY87.1bn.
Some 15 overseas retailers, including Carrefour and Wal-Mart, made the list, Asia Pulse said. Sales from these retailers climbed 28% to reach a combined CNY182.5bn.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
