Hypermarkets are becoming the store of choice for affluent Chinese consumers – with supermarket sales down in recent years, according to a new study.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
More and more of China’s booming – and affluent – middle class are visiting hypermarkets more frequently at the expense of the country’s supermarkets, industry analysts TNS Worldpanel have said.
Hypermarkets now account for 29.8% of grocery sales in China’s 15 largest cities, TNS said, up from 28.5% two years ago. In Shanghai, for instance, hypermarkets account for 45% of grocery sales.
Supermarket sales have slumped from 28.4% in 2001 to 19.1% at the end of June this year, the study claimed.
“On average, China’s middle class consumers visit hypermarkets every 10 days, making for a frequent-shopping pattern that owners of hypermarkets can bank on for a predictable revenue stream,” said Jason Yu, TNS regional account development director.
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
