Li & Fung (HKG:0494) Research Centre Releases China's Retail Market Report For 2011
Sydney, July 18, 2011 AEST (ABN Newswire) - (Global Fashion Wire) - With the fiscal year ending just weeks ago Li & Fung (
HKG:0494) (PINK:LFUGY) Research Centre have released their latest report documenting China's retail market growth over the last twelve months. It discusses the latest retail sales data and strategic analysis of the competitive landscape recognizing the growing sectors and the markets most recent developments at a national level.
National retail sales of consumer goods in 2010 presented real growth reaching a moderated 14.8% year over year (Y.O.Y). Eastern provinces and municipalities made up 59.9% of this annual growth. The luxury sales market also showed a compelling increase in 2010. With declining consumer confidence drawing to an end in early March, the first five months of 2011 has shown great developments with retail sales inflating to 16.6% Y.O.Y. A prominent theme in China's 12th five year plan (2011-2015) is to advance domestic private consumption.
Through the research conducted the competitive landscape of China's retail market was illustrated. Some of the findings showed huge opportunities in the nation with foreign retailers wanting to expand and distribute in China- not as easy a task as some may think. The top 100 retailers had a revenue increase in 2010 of 21.2%, capturing one-tenth of the total market share. While franchise businesses are dotting their way through the market place.
Despite being only two weeks into the new fiscal year Li & Fung Research Centre has already shown recent developments in China's retail market. Unsurprisingly the online retail market continues to grow. Retailers are expanding into smaller cities and even the rural market as the cost of city rent is climbing and also because consumers demand a more unique shopping experience. It is expected that retailers in China improve quality as consumption safety is a major concern.
About Li & Fung Limited
Li & Fung (HKG:0494), the Hong Kong-headquartered multinational group, is the world’s leader in consumer goods design, development, sourcing and logistics. It specializes in responsibly managing supply chains of high-volume, time sensitive goods for leading retailers and brands worldwide, in more than 300 offices across 40 economies.
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