Top chain stores see 5.2% jump in sales
Print Edition
The sales volume of China’s top 100 chain stores saw an annual increase of 5.2 percent to 2.6 trillion yuan (US$366 billion) in 2019, recent data from the China Chain Store & Franchise Association showed.
Chain store operators also remained cautiously optimistic about their business outlook this year amid the novel coronavirus outbreak.
About 78 percent of chain store operators intend to add new outlets this year, but 42 percent estimate a drop in annual sales. Only 36 percent expect to achieve year-on-year sales growth.
The combined online sales of the top 100 chain stores increased 28.7 percent to 500 billion yuan last year, while convenience stores still largely relied on physical store sales.
A total of 73 chain store operators reported an average annual sales increase of 14.4 percent, while the remaining 27 saw an average drop of 9.6 percent.
Suning topped the ranking with 378.7 billion yuan in sales, followed by Gome Retail and Red Star Macalline Group; and the top players operate some 144,000 direct or franchise stores nationwide, up 5.9 percent from a year earlier.
On-demand delivery has already been widely adopted, with nearly 90 percent of supermarkets offering shopping convenience for nearby residential communities.
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