China’s top-100 chain stores grew just 9.9 percent to 2.04tn yuan (US$327bn), marking the first year of single-digit growth since 1998, according to a report released by the China Chain Store and Franchise Association (CCFA) in April.
With a rise in e-commerce, major retailers are turning to digital retail, with 67 of the top-100 chain stores now operating online, accounting for 3.7 per cent of their total sales.
Major chain stores, including Walmart China, Tesco, Carrefour and Suning Commerce, accounted for 8.6 per cent of China’s total retail consumption of goods and services, down from 9.3 per cent in 2012.
