China’s Department Stores Report 2017-2018

Publisher Name :
Date: 24-Jun-2018
No. of pages: 37

In 2017, China’s department store sector witnessed a positive rebound with some signs of stable recovery. After consecutive years of lackluster sales and dropping profitability, the sector as a whole has started to reap the benefits of business upgrading and transformation. The majority of department store operators have stepped up efforts to construct omni-channel business models, optimize supply chain systems, enrich merchandise and service portfolios, explore new retail formats and enhance customer experience. They have actively deployed new technologies to meet the rapidly changing consumer needs.

In 2017, China’s physical retail sector saw a positive rebound with some signs of stable recovery. Meanwhile, some leading department store operators, especially those that keep on innovating, actively optimize their products and services, embrace O2O strategies, and leverage technologies to improve operational efficiency and enhance customer experience, have benefited from the results of business upgrading and transformation. On the other hand, some key Internet companies have successfully extended their online dominance into physical retail by setting up offline stores or by merging with or acquiring physical retailers. Their successful “brick-and-mortar” strategies have created new business models and inspired retail practitioners to transform their businesses in the ""New Retail"" era.

China’s Department Stores Report 2017-2018

Table of Contents

Executive Summary
I. Market Overview
1. Overview of China’s retail market
2. Overview of China’s department store sector

II. New developments and key trends
1. Pursuing omni-channel retailing
2. Diversifying retail formats and tapping into other business sectors to achieve synergy
3. Enriching and expanding self-operated business to enhance product uniqueness and gross profit margins
4. Improving supply chain management and focusing on the basics of retailing
5. Promoting cooperation with all stakeholders along the supply chain

III. Major issues and challenges
1. Business transformation requires fundamental changes in business mindset and mechanism
2. Supply chain integration is needed for successful transformation
3. Obstacles to engaging in merchandise direct sales

IV. Implications and conclusion
1. Optimizing merchandising and enriching offerings in response to consumption upgrading
2. Venturing into O2O retailing with constant business model innovations
3. Advocating consumer-centric business transformation and focusing on the basics of retailing

List of Charts

Total retail sales of consumer goods, 2013-2017
Consumer confidence index, 1Q15-4Q17
Annual sales of 85 surveyed department store operators, 2017
Operating results of 85 surveyed department store operators, 2017
YoY changes in sales revenue of 85 surveyed department store operators, 2017
Deployment of O2O strategies of surveyed department store operators
Penetration of e-commerce business among surveyed department store operators
Forms of e-commerce business among surveyed department store operators
Proportion of surveyed department store operators with and without mobile apps
Major functions of mobile apps of surveyed department store operators
Proportion of surveyed department store operators that have collected consumer data for big data analysis
Means of collecting customer data by surveyed department store operators
Major purposes of collecting consumer data of surveyed department store operators
Adoption of technologies in physical stores of surveyed department store operators
Proportion of surveyed department store operators that have added experiential elements in stores in the last 12 months
Types of experiential elements added in-store by surveyed department store operators
Selected examples of strategic partnerships or alliances between department store operators and Internet companies or e-commerce players (as of February 2018)
Percentage of surveyed department store operators that have formed partnerships with Internet companies or e-commerce players
Selected department store operators that have tapped into shopping mall, convenience store, supermarket and other business sectors (as of February 2018)
Percentage of surveyed department store operators that have tapped into other retail formats
Retail formats surveyed department store operators have already tapped into Percentage of surveyed department store operators that have plans to tap into other retail formats in the next 12 months
Retail formats surveyed department store operators plan to tap into in the next 12 months
Penetration of merchandise direct sales among surveyed department store operators
Forms of merchandise direct sales model of surveyed department store operators
Percentage change in merchandise direct sales compared to the previous year
Percentage of surveyed department store operators that have launched their own private labels
Percentage change in owning private labels among operators with their own private labels in the last 12 months
Percentage of surveyed department store operators that have strengthened collaborations with suppliers and brands
Types of collaborations between surveyed department store operators and upstream suppliers or brand owners

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