The number of supermarkets per household in China is 3 times of Hong Kong and 17 times of Taiwan. In 2006, the number of supermarket outlets in China increased by 10% from the previous year to nearly 70,000. Meanwhile, hypermarkets have seen the fastest growth of any sector. Statistics indicate that 70% of the world’s top 50 retailers have entered China, but they currently occupy only around 8% of the market.
The retail market in China is the third largest in the world, next to US and Japan. In 2006, total retail sales of US$ 983 billion were up 13.6% from the previous year.
Average annual growth has been 14% since 1991, and double-digit growth is expected to continue for the next few years. China’s retail market is already twice the size of all other Asian countries together (excluding Japan), making it extremely attractive for international players.
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