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Chain retailers see robust sales growth in 2007

(Xinhua)
Updated: 2008-04-05 14:26

Major chain retailers including both domestic and foreign businesses saw robust sales growth in China last year, according to the China Chain Store and Franchise Association (CCFA).

Statistics from the CCFA show that combined sales volume of the top 100 chain retailers exceeded 1 trillion yuan ($142.86 billion) in 2007, up 21 percent year on year, accounting for 11.2 percent of the total sales of consumer goods.

The number of outlets of these 100 biggest chain retailers totaled 105,191 by the end of 2007, representing an increase of 58 percent over the previous year.

The country's leading electric appliance chain Gome again topped the name list, with a total sales volume of 102.35 billion yuan and 1,020 outlets.

Bailian, Suning, Vanguard and Dalian Dashang followed Gome on the 2007 name list, with sales figures of 87.14 billion yuan, 85.47 billion yuan, 50.29 billion yuan and 50.22 billion yuan, respectively.

The CCFA said that the retail chain sector developed fast and healthy in the past five years. Sales increased by 45 percent, 39 percent, 42 percent, 25 percent and 21 percent respectively in the years from 2003 to 2007.

Chain retailers also developed fast in rural areas, and this partly attributed to the rapid growth in this sector, said the CCFA. The top 100 retailers saw the number of their outlets surge from 21,210 in 2006 to last year's 52,000, up 145 percent year on year.

Overseas retailers performed well alike in 2007, with 15 major foreign brand retailers collecting 182.5 billion yuan in China last year, up 28 percent over the previous year, when their sales volume was 143.8 billion yuan.

Retailers at the same time expanded their business through more mergers and acquisitions. Gome acquired Dazhong, and Walt-Mart bought into Trust-Mart.

Domestic chain retailers also adopted more active attitude toward mergers and acquisitions in the past years, said the CCFA.

The association said chain retailers would continue to develop fast in the future, but would be faced with more challenges in terms of market competition and higher operation costs.