China Business

Oct 15, 2005

Ten hot spots predicted in Chinese retail

BEIJING - There will be ten hot spots in China's retail industry in 2005-2006, according to a prediction released by the China Federation of Commerce. The hot spots are as follows:

1. Big changes will take place in the pattern of competition and cooperation as a result of accelerating expansion by both Chinese and foreign retailers.

2. Retail businesses will enter a new phase of adjustment and innovation.

3. Reforms will unfold across-the-board in the distribution system, with internal and external trade to be infused.

4. The deepening of economic and commercial reforms in rural areas will help further expand and improve the rural consumption market.

5. The upgrading of the consumption structure (from basic to higher-quality goods) will open up a new era of consumption.

6. The application of supply-chain management and the improvement of the logistics environment will receive greater attention.

7. The deepening reform of the wholesale sector will bring about a new period of upgrading and replacement of specialized markets.

8. With consumers becoming more aware of safeguarding their rights, improvement of products and services and safety control will become the focus of improving management.

9. A commercial credit system will be built up step by step, with credit integrity to become the focus of commercial development.

10. The shaping of brands will be increasingly emphasized in commercial development and the development of own-brands by local companies will accelerate.

(Asia Pulse/XIC)

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