Consumer China

Retail spurred by inland dynamism

  • Published 14 May 2009

Although retail sales growth in China is expected to fall short of last year's record 21.7% expansion, its performance will be enviable from a US and European standpoint, and a number of domestic retailers are poised to benefit.

Nowhere has China's resilience in the face of a gloomy global economic outlook been more pronounced than in the retail sector. In Q4 2008, it looked as if Chinese retail spending would succumb to the shock of slumping exports; sales revenues for the top 10 retail companies tanked by 7.5% year-on-year and profits took even more of a pounding, taking a dive of 29.2%, according to Access Asia. But then, a remarkable thing happened.

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