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China’s Convenience Store Industry in the New Retail Era

The convenience store industry is developing rapidly in China. According to the 2019 China Convenience Store Development Report, the number of convenience stores in China reached 122,000 in 2018, an increase of 15.1% over 2017, far outpacing the growth of large supermarkets (3.6%) and department stores (3.9%) in the same period. With the rapid expansion, the market size of the convenience store industry reached 226.4 billion yuan for the first time in 2018, an increase of 18.9% over 2017. Especially from 2016 to 2018, the average annual growth rate of convenience store sales in China reached 24.32%.

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Tags : ChinaRetail
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