March 14 – As many as 46% of Chinese consumers favor foreign brands when they do grocery shopping as middle class consumers' confidence in local brands has kept falling amid a raft of food safety scandals, according to a study by Data Driven Marketing Asia. Chinese consumers show a preference for food imported from Australia and New Zealand which they think have clean, unpolluted environment.
March 14 – FamilyMart plans to open its first store in Beijing, China Co-op reported, citing Li Jianpeng, a business development employee of FamilyMart's China headquarters in Shanghai. Li did not give specifics such as the new store's location and how many stores FamilyMart plans to operate in the Chinese capital within a timetable. The Japanese convenience store chain said in January that the number of its stores in China had reached 1,050, including some 600 in Shanghai.
March 13 – Adidas said revenue from China including Taiwan, Hong Kong and Macau rose 7% in 2013 given unchanged exchange rate, the slowest pace in the recent three years and the first time the growth dropped below 10%. Sputtering economic growth, stiffer competition and industry-wide overstocking were blamed for the weaker performance. The German sportswear retailer said its development in China would focus on midsized cities.
March 13 – China's retail sales grew 11.8% year on year to 4.23 trillion yuan in January and February combined, including 441.4 billion yuan in restaurant receipts, which was up 9.6% from a year earlier, the National Bureau of Statistics said.
March 13 – China has emerged as the most favored market for retailers, especially Asian retailers, according to a report released by property consultant CBRE. 58% of Asia Pacific-based retailers are targeting the Chinese market, where retail sales amounted to 23.4 trillion yuan in 2013.
March 12 – Walmart (NYSE: WMT) opened 30 stores in China in 2013 and was operating 407 stores, including Sam's Club warehouse clubs, in the country at the end of 2013, according to data from Linkshop.com.cn.
March 12 – Bang & Olufsen, a Danish audio equipment manufacturer, said revenue from China represented 10% of its total revenue last year. B&O currently operates 30 wholly-owned stores in China.
March 11 – Dicos, a Chinese fried chicken chain, said it has opened more than 2,000 restaurants in China, overtaking McDonalds (NYSE: MCD) as the nation's second largest fast food brand after Yum! Brands' (NYSE: YUM) KFC. With the majority of its restaurants in tier-2 and lower-tier cities, Dicos sold 90 million pieces of fried chicken last year.
March 10 – Womenswear retailer Cache-Cache said it plans to open its own online shop in China. Operated by France-based Beaumanoir, Cache-Cache already sells its products online at Tmall.com, China's biggest B2C site, on top of 850 brick-and-mortar stores, 70% of which are operated by local partners.
March 10 – China's consumer price index rose 2% in February from a year earlier, easing from 2.5% in the month before and hitting the lowest level in 13 months, the National Bureau of Statistics said. Food prices, which make up one-third of the inflation basket, were up 2.7% from a year earlier, one percentages point slower than in the month before.
March 10 – Uniqlo said it will open its largest store in southern China in Guangzhou, Guangdong's provincial capital, on March 28. To cover 6,000 square meters, the new store will feature the Japanese clothing retailer's complete product line for men, women, children and infants.
March 10 – New Look has opened its first two stores in China, in Shanghai and Beijing. The British global fashion retailer plans to operate 20 stores in the country by 2015.
March 9 – Thai retailer CP Lotus (HKG: 0121) opened five new hypermarkets and closed four in China in 2013, according to data from Linkshop.com.cn. It was operating 76 hypermarkets in the country at the end of February 2014.
You are currently reading
total words in this article.
To continue reading this article, you must be a subscriber. Log in now..