China Retail Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

China Retail Sector Market is Segmented by Products (food and Beverages, Personal and Household Care, Apparel, Footwear and Accessories, Furniture, Toys, And Hobby, Electronic and Household Appliances, And Other Products), Distribution Channels (supermarkets/hypermarkets, Convenience Stores, And Department Stores, Specialty Stores, Online, And Other Distribution Channels). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

China Retail Market Size

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China Retail Sector Market Summary
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Study Period 2020 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 1.94 Trillion
Market Size (2029) USD 2.87 Trillion
CAGR (2024 - 2029) 8.17 %
Market Concentration Low

Major Players

China Retail Sector Market Major Players

*Disclaimer: Major Players sorted in no particular order

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China Retail Market Analysis

The China Retail Sector Market size is estimated at USD 1.94 trillion in 2024, and is expected to reach USD 2.87 trillion by 2029, growing at a CAGR of 8.17% during the forecast period (2024-2029).

Covid-19 impacted China retail in the offline distribution channel and greatly drove the online channel's growth. China's economy stabilizes gradually, boosted by rising industrial production and foreign currency reserves. However, questions loom large over its market status and sovereign risk rating. Chinese retail sales were up by more than 10% in 2021 versus a year earlier. China's Internet Giants are at the heart of digital retail and are also the ones to usher in the new retail era. As rural and urban households witnessed a steady growth of disposable incomes, the spending power of the Chinese population also increased dramatically, and the retail market matured into one of the largest and still growing consumer markets worldwide. It is highly competitive and diversified, and the market shares of the leading Chinese retail chains were receding over the past few years.

Tourists are augmenting the demand for products related to fashion, apparel, and electronics. Consumer spending is a key indicator of the health of the retail market. Moreover, the increasing strength of online shopping is a major driver (especially during the COVID-19 crisis). The growing smartphone penetration across countries is also driving the e-commerce channel. Also, IoT, augmented reality, and other disruptive technologies are reshaping the retail industry. However, price variation between online and brick-and-mortar stores can challenge the retail market growth.

China Retail Market Trends

E-commerce is Driving the Market

Internet retailing is the modern way of shopping. With the growing penetration of smartphones, mobile devices, and internet services, e-commerce emerged as a major shopping platform worldwide. The retail e-commerce market is driven by an increasing set of suppliers selling online and a change in consumers' buying behavior, among others. The rise of online fresh groceries sales and growing numbers of prepared food delivery companies entering this space could propel category growth several-fold in the next five years. Mobile-first sites, dedicated apps, emerging payment methods, and other tools are making shopping on smartphones much easier. Many retailers operate an omnichannel model, which aims to integrate offline and online channels.

China Retail Sector Market: China E-commerce Value, in  USD trillion, 2019-2022

Increased Disposable Income of People is Driving the Market

Disposable income is left over after taxes and is what households consume for their needs and wants. Things like rent, bills, food shopping, gasoline, and so on come from disposable income. If disposable income increases, households include more money to save or spend, which naturally leads to a growth in consumption. Consumer spending is one of the most important determinants of demand. Consumer spending creates the demand that keeps companies profitable and hiring new workers. The increased disposable income will help people to purchase more goods and things. It will indirectly fuel the growth of the retail industry.

China Retail Sector Market: Disposable Income, in China, 2019-2022

China Retail Industry Overview

The report covers major international players operating in the Chinese retail sector. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets. The major players are Alibaba Group Holding Ltd., Walmart Inc., JD.com Inc., GOME Retail Holding Ltd., and China Resource Ng Fung Co. Ltd.

China Retail Market Leaders

  1. Alibaba Group Holding Ltd.

  2. Walmart Inc.

  3. JD.com Inc.

  4. GOME Retail Holding Ltd.

  5. China Resource Ng Fung Co. Ltd.

*Disclaimer: Major Players sorted in no particular order

China Retail Sector Market Concentration
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China Retail Market News

  • January 2023: Chinese e-commerce giant Alibaba Group Holding Ltd. signed a cooperation agreement with the government of Hangzhou, where the company is headquartered. It will help the tech sector to grow and include a good regulatory relationship with the government.
  • January 2023: Chinese e-commerce giant JD.Com will be shutting shops in Indonesia and Thailand as it retreats from Southeast Asia after a bruising year for China's retail and technology sectors.

China Retail Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS AND INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Industry Value Chain Analysis

    5. 4.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.5.1 Bargaining Power of Suppliers

      2. 4.5.2 Bargaining Power of Buyers

      3. 4.5.3 Threat of New Entrants

      4. 4.5.4 Threat of Substitutes

      5. 4.5.5 Intensity of Competitive Rivalry

    6. 4.6 Insights on Technology Innovation

    7. 4.7 Impact of COVID-19 on the Market

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 Food and Beverages

      2. 5.1.2 Personal and Household Care

      3. 5.1.3 Apparel, Footware, and Accessories

      4. 5.1.4 Furniture, Toys, and Hobby

      5. 5.1.5 Electronic and Household Appliances

      6. 5.1.6 Other Products

    2. 5.2 By Distribution Channel

      1. 5.2.1 Supermarkets/Hypermarkets, Convenience Stores, and Department Stores

      2. 5.2.2 Specialty Stores

      3. 5.2.3 Online

      4. 5.2.4 Other Distribution Channels

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Concetration Overview

    2. 6.2 Company Profiles

      1. 6.2.1 Alibaba Group Holding Ltd.

      2. 6.2.2 China Resources Ng Fung Co. Ltd.

      3. 6.2.3 CK Hutchison Holdings Ltd.

      4. 6.2.4 E-Commerce China Dangdang Inc.

      5. 6.2.5 GOME Retail Holdings Ltd.

      6. 6.2.6 JD.com Inc.

      7. 6.2.7 Sun Art Retail Group Ltd.

      8. 6.2.8 Suning Holdings Group

      9. 6.2.9 Walmart Inc.

      10. 6.2.10 Yonghui Supermarket Co. Ltd.*

    3. *List Not Exhaustive
  7. 7. MARKET OPPORTUNTIES AND FUTURE TRENDS

  8. 8. DISCLAIMER AND ABOUT US

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China Retail Industry Segmentation

Retail is the sale of goods and services to consumers, in contrast to wholesaling, which is a sale to business or institutional customers. The report on the China retail industry provides a comprehensive evaluation of the market, with an analysis of the segments in the market. Moreover, the report provides drivers, restraints, and the competitive profile of the key players. The China Retail Market is segmented by products (food and beverages, personal and household care, apparel, footwear and accessories, furniture, toys, and hobby, electronic and household appliances, and other products), distribution channels (supermarkets/hypermarkets, convenience stores, and department stores, specialty stores, online, and other distribution channels). The report offers market size and forecasts in value (USD) for all the above segments.

By Product
Food and Beverages
Personal and Household Care
Apparel, Footware, and Accessories
Furniture, Toys, and Hobby
Electronic and Household Appliances
Other Products
By Distribution Channel
Supermarkets/Hypermarkets, Convenience Stores, and Department Stores
Specialty Stores
Online
Other Distribution Channels
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China Retail Market Research FAQs

The China Retail Sector Market size is expected to reach USD 1.94 trillion in 2024 and grow at a CAGR of 8.17% to reach USD 2.87 trillion by 2029.

In 2024, the China Retail Sector Market size is expected to reach USD 1.94 trillion.

Alibaba Group Holding Ltd., Walmart Inc., JD.com Inc., GOME Retail Holding Ltd. and China Resource Ng Fung Co. Ltd. are the major companies operating in the China Retail Sector Market.

In 2023, the China Retail Sector Market size was estimated at USD 1.78 trillion. The report covers the China Retail Sector Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the China Retail Sector Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Retail in China Industry Report

Statistics for the 2024 Retail in China market share, size and revenue growth rate, created by Mordor Intelligenceā„¢ Industry Reports. Retail in China analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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China Retail Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)