Sydney, July 18, 2011 (ABN Newswire) - (Global Fashion Wire) - With the fiscal year ending just weeks ago Li & Fung (HKG:0494) (PINK:LFUGY) Research Centre have released their latest report documenting China's retail market growth over the last twelve months. It discusses the latest retail sales data and strategic analysis of the competitive landscape recognizing the growing sectors and the markets most recent developments at a national level.
National retail sales of consumer goods in 2010 presented real growth reaching a moderated 14.8% year over year (Y.O.Y). Eastern provinces and municipalities made up 59.9% of this annual growth. The luxury sales market also showed a compelling increase in 2010. With declining consumer confidence drawing to an end in early March, the first five months of 2011 has shown great developments with retail sales inflating to 16.6% Y.O.Y. A prominent theme in China's 12th five year plan (2011-2015) is to advance domestic private consumption.
Through the research conducted the competitive landscape of China's retail market was illustrated. Some of the findings showed huge opportunities in the nation with foreign retailers wanting to expand and distribute in China- not as easy a task as some may think. The top 100 retailers had a revenue increase in 2010 of 21.2%, capturing one-tenth of the total market share. While franchise businesses are dotting their way through the market place.
Despite being only two weeks into the new fiscal year Li & Fung Research Centre has already shown recent developments in China's retail market. Unsurprisingly the online retail market continues to grow. Retailers are expanding into smaller cities and even the rural market as the cost of city rent is climbing and also because consumers demand a more unique shopping experience. It is expected that retailers in China improve quality as consumption safety is a major concern.
Li & Fung Limited (HKG:0494) is a Hong Kong-headquartered multinational export group and recognized as the world's leader in consumer goods design, development and sourcing. From over 80 offices in the United States, Europe, Africa and Asia, the Group manages the supply chain for retailers and brands worldwide and sources from more than 40 economies. It also operates an extensive distribution and logistics network serving a variety of brands. Corporate website: www.lifung.com
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