Publisher's latest report on “Retailing in China - Market Summary and Forecasts, 2015-2020” provides data for historic and forecast retail sales, and also includes information on the business environment and country risk related to the Chinese retail environment. In addition, it analyzes the key consumer trends influencing the Chinese retail industry.

China’s rising middle class is set to alter the economic and social dynamics of the country. Widening prosperity and changing lifestyles, combined with greater accessibility and availability of goods is changing the way the Chinese shop. Though they still want the best deal and so are not brand loyal, they are more open to inspiration and brand influence. In addition, as their wealth increases they want to convey their status to their peers by owning status products and brands.

Retail in China has enjoyed double digit growth for over a decade as the country enjoys positive economic growth, rising disposable incomes and growing incomes. The global recession slowed growth but as the middle classes expand, retailers have spread to second and third tier cities, and online shopping takes off, spending will increase as more consumers have greater access and inclination to spend. As the younger population matures and takes on higher paid employment than their parents' generation, spending and volumes will continue to increase.

Key Findings

-Despite the sluggish economic situation, the retail sector registers a significant growth

-A rising middle class with increased disposable income and altering lifestyles are driving retail demand

-Retailer's expansion plans in tier lll and tier lV cities will drive further growth

-A changing shopping mode from functional, deal driven to emotional, status driven, is creating new opportunities for both value for money and premium products

-Online platform will be a key channel for retailing over the next five years

-China continues to be the second the largest Duty Free market in 2020

-A strong affinity towards brands and increasing fashion consciousness will result in more spending on clothing and footwear

-The food and grocery segment will continue to be dominated by local players