2010 China Top 100 Chain Stores Announced, No Laundry and Dyeing Enterprises on the List
Release Time:
2011-05-06 18:39
Source:
www.chinalaundry.cn
On March 28, the China Chain Store & Franchise Association released the "2010 China Top 100 Chain Stores Report." Suning Appliance Group, with sales of 156.2 billion yuan, surpassed Gome for the second time to top the China Top 100 Chain Stores list. The laundry and dyeing industry, which uses chain operation as an important development approach, had no enterprises entering this Top 100 chain ranking.
In 2010, the sales scale of the Top 100 chains reached 1.66 trillion yuan, a year-on-year increase of 21.2%, exceeding the growth rate of total retail sales of consumer goods by 2.8 percentage points. The total number of stores of the Top 100 enterprises reached 150,000, a year-on-year increase of 9.8%. The sales of the Top 100 enterprises accounted for 11% of the total retail sales of consumer goods, basically the same as the previous year.
The "2010 China Top 100 Chain Stores" enterprises show the following characteristics:
1. Rapid growth in sales scale
In 2010, the sales scale of the Top 100 enterprises increased significantly by 21.2%, which is 7.7 and 2.8 percentage points higher than 13.5% in 2009 and 18.4% in 2008 respectively. The number of stores of the Top 100 enterprises increased by 9.8%, the lowest growth rate since 2006.
Although the growth rate of store openings declined, the sales scale rose significantly, indicating an improvement in the operational quality of the Top 100 enterprises. Statistics show that comparable store sales of the Top 100 enterprises grew by about 10% on average in 2010, and after excluding price increases, there was still a slight growth.
2. Foreign-funded enterprises have a higher average growth rate than domestic enterprises
Foreign-funded enterprises among the Top 100 mainly operate large supermarket formats and are gradually dominating this field. The store opening speed and sales growth of domestic enterprises are generally lower than those of foreign-funded enterprises. However, some enterprises showed remarkable development speed in 2010, with sales or store opening growth exceeding 40%.
3. Department stores develop faster than supermarkets
In 2010, chain enterprises mainly operating department stores occupied one-third of the Top 100 seats. The average sales and store number growth rates of 35 department store chain enterprises were 23.2% and 18.5% respectively, significantly higher than those of supermarket chains. Mergers and acquisitions became an important way for department stores to expand, with quite a few department stores conducting acquisitions in 2010.
4. Online retail initially takes shape
Statistics show that in 2010, 34 of the Top 100 enterprises carried out online retail business, achieving sales scale
of about 3 billion yuan. Online stores with large traffic and sales are mainly concentrated on platforms operated by home appliance and department store enterprises.
5. Operating costs rise sharply
In 2010, the biggest difficulty faced by the Top 100 enterprises was the increase in operating costs, including rent and labor costs.
Competition for high-quality site resources and soaring real estate prices led to a sharp rise in rent, significantly increasing enterprises' rental costs. Limited profits were consumed by rent, also causing a slowdown in the number of new store openings. Statistics show that in 2010, the average rent renewal cost for chain enterprises increased by about 30%.
The direct manifestation of rising labor costs is the increase in employee wages and benefits. Sample statistics of the Top 100 enterprises show that labor costs increased by an average of 15% in 2010. In addition, high staff turnover and the resulting investments in recruitment and training also increased significantly.
In 2010, despite many pressures and challenges, chain enterprises also welcomed historic development opportunities, including the advancement of urbanization and continuous growth of the consumer market.
In the new year, the overall economic environment will further promote the prosperity of the consumer market, including wage increases and improvements in social security mechanisms; at the same time, policies to stimulate domestic demand and promote consumption will lead to more support policies for the circulation industry, including the upcoming "12th Five-Year Plan for Domestic Trade Development," which will strongly promote the development of chain operations.
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