Foreign retailers outpace domestic chains in China
Foreign retailers operating in China saw their sales and their store-opening programmes outpace their domestic rivals in 2009, according to the latest industry data in the country.Sales from the 20 “foreign-funded” retailers that are among China’s top 100 retail chains, including Carrefour China, grew by 20.4% in 2009, the China Chain Store & Franchise Association (CCFA) said yesterday (29 March).
The association said the sales growth achieved by foreign retailers was “significantly higher” than that posted by China’s domestic chains.
The CCFA said its survey also found that the number of stores opened by foreign-funded retailers rose 15.4% last year.
Looking at the top 100 chains as a whole, the CCFA said sales grew by 13.5% in 2009. However, the association said the sales growth was the lowest achieved since it started its survey in 1999.
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