March 21 – The value of China's e-commerce transactions rose 30% to 10.2 trillion yuan in 2013, the China E-commerce Research Center said. The value of B2B transactions was up 31% to 8.2 trillion yuan and online retail sales were up 43% to 1.89 trillion.

March 20 – Private equity firm CVC Capital acquired a controlling stake in Da Niang Dumpling, a fast food chain in China, Inside Retail Asia reported. Founded in 1996, Da Niang operates over 440 stores in 19 provinces.

March 19 – 7-Eleven opened its fourth store in Chongqing, which sells food tailored for local tastes. The convenience store chain operator plans to open 100 stores in the southwestern metropolis of 32 million in two years and increase store count to 1,000 in 10 years.

March 18 – Sales at 5,000 retailers tracked by the Ministry of Commerce rose 5.4% year on year in January and February combined, 2.5 percentage points slower than in the same period of 2013.

March 18 – Ikea said it will open its first store in Chongqing on March 27. Operating 14 stores in 11 Chinese cities, the Swedish home improvement retailer previously said it planned to open three stores in China annually in the next few years. Its revenue from China stacked up to 6.3 billion yuan in the financial year through August 2013, during which 45 million customers – up 12% from 2012 – visited local stores.

March 18 – Nearly 60% of Chinese consumers use cellphone to do shopping, the highest in Asia Pacific, followed by 51.2% in Thailand and 47.6% in South Korea, according to a MasterCard report. The age groups of 25-34 and 45-49 are the most active in online shopping in China; the top three goods or services purchased online are air tickets, clothing and consumer electronics.

March 18 – Luxury department store Lane Crawford opened a new store in Chengdu, Sichuan's provincial capital. The 7,600-square-foot facility cost 300 million yuan and offers over 300 brands across two floors. Lane Crawford opened a 14,000-square-meter flagship store in Shanghai in November, which is its largest one in the world.

March 17 – Sales at convenience stores in China rose 13.8% year on year in Q4 2013, much faster than that of supermarkets/hypermarkets and department stores, Linkshop.com.cn reported. Operating areas of convenience stores grew 7.3% year on year during the quarter.

March 17 – Luxury menswear group Trinity said revenue from China including Taiwan, Hong Kong and Macau fell 5.7% in 2013, which was faster than its overall revenue decline of 3.7%, Inside Retail Asia reported. Weak demand caused the company to offer bigger discounts, leading to a drop in gross margin by 2.6 percentage points to 75.5%.

 

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