View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
August 16, 2013

CHINA: Sun Art Retail looks online for further growth

Chinese retail giant Sun Art Retail Group is to launch a home delivery service in the fourth quarter, as part of efforts to capture further growth in the world's biggest food and grocery market.

Chinese retail giant Sun Art Retail Group is to launch a home delivery service in the fourth quarter, as part of efforts to capture further growth in the world’s biggest food and grocery market.

Sun Art established Uitox E-commerce (Shanghai) Co. in the first half of the year, which will be one of the platforms used by the group to develop its e-commerce business. Home deliveries will be distributed to customers in Shanghai, the company said. 

The news comes after the retailer yesterday (15 August) booked a 14.8% increase in first-half profit and said it will continue its store expansion in the back half of the year.

Competition within the online retail market in China is heating up. Yesterday, as Wal-Mart reported its second-quarter results, it said its Chinese online venture Yihaodian saw sales grow at a double-digit rate. 

The retailer last year increased its investment in Yihaodian to take a controlling stake in the company.

China is valued at more than US$1tn and is forecast to be worth US$1.5tn in 2016, according to statistics from research firm IGD. 

The number of higher-income earners in the country has surged in recent years, benefiting from a significant rise in wages. As a result, demand for new products, brands and concepts have soared – helping to fuel growth.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU