China’s retail market is a highly active and diverse market with great competition and potential. In recent years, offline retail channels and online retail channels are gradually integrating, which leads to the industry upgrade. New retail forms, such as CBEC and community group buying, have emerged and developed well in the complicated environment, bringing players new opportunities and challenges. This article describes a whole picture of this complicated industry. Brands that want to enter this China’s market will find this article informative and worth reading.
In December 2004, China fully opened its retail market. This market has grown rapidly and witnessed the rise of many competitive retail brands and companies since then. According to the National Bureau of Statistics, China’s total retail sales of consumer goods reached 39.1981 trillion yuan in 2020. It is a fantastic result though the figure drops by 3.9% because of the pandemic. 1
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