Department Stores-China-February 2014:Industry Analysis Report

Department Stores - China - February 2014
The department store and shopping mall sector is facing increasing competition for consumer attention, making it ever-more important for retailers to identify key
consumer groups and their shopping habits to better adapt their offering to best suit consumers’ needs.
table Of Content

introduction

definition
report Structure
methodology
abbreviations

executive Summary

the Market
figure 1: China – Forecast And Total Department Store Retail Sales, 2008-18
companies And Brands
figure 2: China – Top 10 Department Store Retail Groups’ Revenue Share Of Total National Department Store Chain Retail Market, 2013
(estimate)
the Consumer
figure 3: China – Department Store And Shopping Mall Shoppers, By Target Group, December 2013
key Issues
increasing Shopper Footfall And Frequency Of Visits
figure 4: Frequency Of Visiting Shopping Malls And Department Stores, December 2013
consumers Seeking Greater Variety Of Shopping And Services
figure 5: Reasons For Visiting Department Stores And Shopping Malls, December 2013
creating Social And Entertainment Hubs
figure 6: Relative Advantages Of Shopping Malls Over Department Stores, December 2013
providing A Lifestyle Experience
figure 7: Features That Would Encourage Shoppers To Visit Department Stores Or Shopping Malls More Often, December 2013
what We Think

the Market

key Points
market Size And Forecast
department Stores Are Facing Higher Costs And Greater Competition
stores Adjust Their Business Model In An Attempt To Survive
no Sign Of An Easing Of Competitive Pressures
department Store Revenues Are Lagging Behind The Total Retail Market
figure 8: China – Forecast And Total Department Store Retail Sales, 2008-18
market Segmentation
chains Are Losing Share To Independents
figure 9: China – Department Store Market Total Value, By Sector, 2008-13
figure 10: China – Department Store Market Total Volume, By Sector, 2008-13
market Drivers
department Stores Face Tough Competitive Future
shopping Malls Are No Easy Solution
vacancy Rates Prove That There Is Overcapacity In The Market
quality Not Quantity
consumers Expect Malls And Department Stalls To Offer A Social Element
figure 11: Relative Advantages Of Department Stores Or Shopping Malls, December 2013
malls Need To Be A Leisure Destination As Much As A Retail Outlet
stores Are Limited By Their Reliance On Concessions
own-brand Outlets And Online Are Challenging Traditional Business Models
creating A More Efficient Business Model
digitally Enhancing The “experience”

combining Mobile And In-store To Maximise Shopper Experience
balancing The Online/offline Channels
figure 13: Total Online Users, Purchasers And Per Capita Spending, 2007-12
clothing Leads The Way For Online Retail
figure 14: Online Apparel Retailing As A Proportion Of Total China Apparel Market Value, 2008-12
department Stores And Malls Need To Invest In Data Management
intime Department Store Shows How To Integrate On- And Offline Retail
online Adds A Further Point Of Contact For Department Stores
figure 15: Frequency Of Consumers Browsing Online Department Stores, December 2012
figure 16: Frequency Of Consumers Buying At Online Department Stores, December 2012
omnichannel Retailing Can Ensure Department Stores’ Future Relevance
official Anti-gifting And Weakening Luxury Sales
targeting The Lower Tiers And Middle Classes

companies And Brands

key Points
brand Share
the Top 10 Department Store Groups’ Value Share
figure 17: China – Top 10 Department Store Retail Groups’ Revenue Share Of Total Department Store Chain Revenues, 2013 (estimate)
the Top 10 Groups’ Value Share Recovering
figure 18: China – Share Of The Leading Department Store Groups Of Total Department Store Chain Revenues, 2010-13
figure 19: China – Share Of The Top 10 Combined Leading Department Store Groups Of Total Department Store Chain Revenues, 2010-13
the Top-10 Department Store Groups’ Outlet Share
figure 20: China – Top 10 Department Store Retail Groups’ Outlet Share Of The Total National Department Store Retail Market, 2013 (estimate)
the Top 10 Groups’ Outlet Share Increasing
figure 21: China – Share Of The Leading Department Store Groups Of Total Department Store Chain Outlets, 2010-13
weakening Profitability, Especially In The State-owned Sector
figure 22: Combined Top 10 Department Store Groups’ Combined Turnover And Profits, By Ownership Structure And Total, 2010-13
responses To A Slowing Market
survival Through M&a
network Expansion And Store Revamp
regional Focus And Vip Consumers
sector Focus And Online Integration
differentiation Through Refining Categories And Brands
recent Openings And Investment
strategic Business Adjustments
companies
shandong Commercial Group Co., Ltd.
figure 23: Shandong Inzone Co., Ltd. Financial Results, 2010-13
new World Department Store China
figure 24: New World Department Store China Ltd. Financial Results, 2010-13
dashang Group Co., Ltd.
figure 25: Dashang Group Co., Ltd. Financial Results, 2010-13
chongqing General Trading Group
figure 26: Chongqing General Trading Group Co., Ltd. Financial Results, 2010-13
beijing Wangfujing Department Store Co., Ltd.
figure 27: Beijing Wangfujing Department Store Co., Ltd. Financial Results, 2010-13
parkson Retail Group Ltd.
figure 28: Parkson Retail Group Ltd. Financial Results, 2010-13

the Consumer – Consumer Segmentation

key Points
four Key Consumer Groups
figure 29: China – Department Store And Shopping Mall Shoppers, By Target Group, December 2013
key Consumer Groups’ Demographic Profiles
figure 30: China – Department Store And Shopping Mall Shoppers Target Groups, By Demographics, December 2013
key Consumer Groups’ Attitudes Towards The Shopping Experience
shopping Junkies Are Looking For A Wider Range Of Brand Outlets
figure 31: China – Department Store And Shopping Mall Shoppers’ Attitudes Towards Department Stores And Shopping Malls, By Target Group,
December 2013
what Does It Mean?


key Issue – Increasing Shopper Footfall And Frequency Of Visits

key Points
shopping Frequency Already High Among Two Thirds Of Consumers
figure 32: Frequency Of Visiting Shopping Malls And Department Stores, December 2013
shopping Frequency And Sectors Of Spending
figure 33: Frequency Of Visiting Department Stores, By Sectoral Spending By Consumers When Visiting Department Stores Or Shopping Malls, December
2013
figure 34: Frequency Of Visiting Shopping Malls, By Sectoral Spending By Consumers When Visiting Department Stores Or Shopping Malls, December 2013
shopping Frequency By Target Consumer Groups
figure 35: Frequency Of Visiting Department Stores, By Target Groups, December 2013
figure 36: Frequency Of Visiting Shopping Malls, By Target Groups, December 2013
the Reasons Shoppers Visit Stores More Frequently
figure 37: Frequency Of Visiting Department Stores, By Reasons For Visiting, December 2013
figure 38: Frequency Of Visiting Shopping Malls, By Reasons For Visiting, December 2013
what Would Encourage More Frequent Store Visits?
figure 39: Frequency Of Visiting Shopping Malls, By Features That Would Encourage Shoppers To Visit Department Stores Or Shopping Malls More Often,
December 2013
features Sought By Target Consumer Group
figure 40: Features That Would Encourage Shoppers To Visit Department Stores Or Shopping Malls More Often, By Target Groups, December 2013
what Does It Mean?

key Issue – Consumers Seeking Greater Variety Of Shopping And Services

key Points
sales Still Dominate Store Visit Reasoning
figure 41: Reasons For Visiting Department Stores And Shopping Malls, December 2013
innovation And Exclusivity Isn’t The Preserve Of Luxury Brands
attract The Women And The Men Will Follow
figure 42: Reasons For Visiting Department Stores, By Gender And Age Group, December 2013
the Importance Of Not Pricing Out The Next Generation
figure 43: Reasons For Visiting Department Stores, By Monthly Household Income Group, December 2013
give Them What They Want…
figure 44: Reasons For Visiting Department Stores, By Most Common Products Bought In The Past Six Months, December 2013
figure 45: Reasons For Visiting Department Stores, By Next Most Common Products Bought In The Past Six Months, December 2013
and Give Them An Experience
figure 46: Reasons For Visiting Department Stores, By Leisure Services Used In The Past Six Months, December 2013
the Shopping Mall As A Theme Park
figure 47: Reasons For Visiting Shopping Malls, By Gender And Age Group, December 2013
figure 48: Reasons For Visiting Shopping Malls, By Monthly Household Income Group, December 2013
a Day Out At The Shopping Mall
figure 49: Reasons For Visiting Shopping Malls, By Most Common Products Bought In The Past Six Months, December 2013
figure 50: Reasons For Visiting Shopping Malls, By Next Most Common Products Bought In The Past Six Months, December 2013
figure 51: Reasons For Visiting Shopping Malls, By Services Used In The Past Six Months, December 2013
consumer Target Groups’ Reasons For Visiting Department Stores
figure 52: Reasons For Visiting Department Stores, By Target Consumer Group, December 2013
consumer Target Groups’ Reasons For Visiting Shopping Malls
figure 53: Reasons For Visiting Shopping Malls, By Target Consumer Group, December 2013
what Does It Mean?

key Issue – Creating Social And Entertainment Hubs

key Points
creating A Community Within A Community
figure 54: Relative Advantages Of Shopping Malls Over Department Stores, December 2013
different Consumers Looking For Different Things
figure 55: Relative Advantages Of Shopping Malls Over Department Stores, By Gender And Age Group, December 2013
making Malls An Event Venue
paying For More Of An Experience
figure 56: Relative Advantages Of Shopping Malls Over Department Stores, By Monthly Household Income Group, December 2013
adapting To Different Consumer Lifestyles
figure 57: Relative Advantages Of Shopping Malls Over Department Stores, By Target Consumer Group, December 2013
figure 58: Sectoral Spending On Dining And Entertainment By Consumers When Visiting Department Stores Or Shopping Malls, By Target Groups, December

2013
what Does It Mean?

key Issue – Providing A Lifestyle Experience

key Points
features Shoppers Want More Of
features Sought By Gender/age Groups
figure 60: Features That Would Encourage Shoppers To Visit Department Stores Or Shopping Malls More Often, By Gender And Age Group, December 2013
features Sought, By Income Groups
figure 61: Features That Would Encourage Shoppers To Visit Department Stores Or Shopping Malls More Often, By Monthly Household Income Group,
December 2013
practicalities And Entertainment Dominate Consumer Attitudes Towards Department Stores And Shopping Malls
figure 62: Consumer Attitudes Towards Department Stores And Shopping Malls, December 2013
women Tend To Be More Pro-shopping Mall
figure 63: Consumer Attitudes Towards Department Stores And Shopping Malls, By Gender And Age Group, December 2013
expectations Rise Among More Affluent Consumers
figure 64: Consumer Attitudes Towards Department Stores And Shopping Malls, By Monthly Household Income Group, December 2013
consumer Attitudes By Target Consumer Group
figure 65: Consumer Attitudes Towards Department Stores And Shopping Malls, By Target Consumer Group, December 2013
what Does It Mean?

appendix – Market Size

figure 66: Total Value Of Retail Sales Revenues Of Department Stores, By Sector, 2006-18
appendix – Frequency Of Visiting Department Stores And Shopping Malls

figure 67: Frequency Of Visiting Department Stores, December 2013
figure 68: Frequency Of Visiting Department Stores, By Demographics, December 2013
figure 69: Frequency Of Visiting Department Stores, By Most Popular Reasons For Visiting Department Stores, December 2013
figure 70: Frequency Of Visiting Department Stores, By Next Most Popular Reasons For Visiting Department Stores, December 2013
figure 71: Frequency Of Visiting Shopping Malls, December 2013
figure 72: Frequency Of Visiting Shopping Malls, By Demographics, December 2013
figure 73: Frequency Of Visiting Shopping Malls, By Most Popular Reasons For Visiting Department Stores, December 2013
figure 74: Frequency Of Visiting Shopping Malls, By Next Most Popular Reasons For Visiting Department Stores, December 2013

appendix – Reasons For Visiting Department Stores And Shopping Malls

figure 75: Reasons For Visiting Department Stores, December 2013
figure 76: Most Popular Reasons For Visiting Department Stores, By Demographics, December 2013
figure 77: Next Most Popular Reasons For Visiting Department Stores, By Demographics, December 2013
figure 78: Reasons For Visiting Department Stores, By Most Popular Sectoral Spending By Consumers When Visiting Department Stores Or Shopping Malls
– Consumer Goods, December 2013
figure 79: Reasons For Visiting Department Stores, By Next Most Popular Sectoral Spending By Consumers When Visiting Department Stores Or Shopping
Malls – Consumer Goods, December 2013
figure 80: Reasons For Visiting Department Stores, By Sectoral Spending By Consumers When Visiting Department Stores Or Shopping Malls – Dining
And Entertainment, December 2013
figure 81: Reasons For Visiting Department Stores, By Most Popular Relative Advantages Of Department Stores Or Shopping Malls, December 2013
figure 82: Reasons For Visiting Department Stores, By Next Most Popular Relative Advantages Of Department Stores Or Shopping Malls, December 2013
figure 83: Reasons For Visiting Shopping Malls, December 2013
figure 84: Most Popular Reasons For Visiting Shopping Malls, By Demographics, December 2013
figure 85: Next Most Popular Reasons For Visiting Shopping Malls, By Demographics, December 2013
figure 86: Reasons For Visiting Shopping Malls, By Most Popular Sectoral Spending By Consumers When Visiting Department Stores Or Shopping Malls
figure 87: Reasons For Visiting Shopping Malls, By Next Most Popular Sectoral Spending By Consumers When Visiting Department Stores Or Shopping Malls
figure 88: Reasons For Visiting Shopping Malls, By Sectoral Spending By Consumers When Visiting Department Stores Or Shopping Malls – Dining
And Entertainment, December 2013
figure 89: Reasons For Visiting Shopping Malls, By Most Popular Relative Advantages Of Department Stores Or Shopping Malls, December 2013
figure 90: Reasons For Visiting Shopping Malls, By Next Most Popular Relative Advantages Of Department Stores Or Shopping Malls, December 2013

appendix – Sectoral Spending By Consumers When Visiting Department Stores Or Shopping Malls

figure 91: Sectoral Spending By Consumers When Visiting Department Stores Or Shopping Malls, December 2013
figure 92: Most Popular Sectoral Spending By Consumers When Visiting Department Stores Or Shopping Malls – Consumer Goods, By Demographics,
December 2013
figure 93: Next Most Popular Sectoral Spending By Consumers When Visiting Department Stores Or Shopping Malls – Consumer Goods, By
Demographics, December 2013
figure 94: Sectoral Spending By Consumers When Visiting Department Stores Or Shopping Malls – Dining And Entertainment, By Demographics,
December 2013
repertoire Analysis
figure 95: Repertoire Of Sectoral Spending By Consumers When Visiting Department Stores Or Shopping Malls, December 2013
figure 96: Repertoire Of Sectoral Spending By Consumers When Visiting Department Stores Or Shopping Malls, By Demographics, December 2013
figure 97: Sectoral Spending By Consumers When Visiting Department Stores Or Shopping Malls, By Repertoire Of Sectoral Spending By Consumers When
Visiting Department Stores Or Shopping Malls, December 2013

appendix – Relative Advantages Of Department Stores Or Shopping Malls

figure 98: Relative Advantages Of Shopping Malls Compared With Department Stores, December 2013
figure 99: Most Popular Relative Advantages Of Shopping Malls Compared With Department Stores, By Demographics, December 2013
figure 100: Next Most Popular Relative Advantages Of Shopping Malls Compared With Department Stores, By Demographics, December 2013
figure 101: Relative Advantages Of Shopping Malls Compared With Department Stores, By Most Popular Features That Would Encourage Shoppers To Visit
Department Stores Or Shopping Malls More Often, December 2013
figure 102: Relative Advantages Of Shopping Malls Compared With Department Stores, By Next Most Popular Features That Would Encourage Shoppers To
Visit Department Stores Or Shopping Malls More Often, December 2013
figure 103: Relative Advantages Of Shopping Malls Compared With Department Stores, By Other Features That Would Encourage Shoppers To Visit
Department Stores Or Shopping Malls More Often, December 2013

appendix – Features That Would Encourage Shoppers To Visit Department Stores Or Shopping Malls More Often

figure 105: Most Popular Features That Would Encourage Shoppers To Visit Department Stores Or Shopping Malls More Often, By Demographics, December
2013
figure 106: Next Most Popular Features That Would Encourage Shoppers To Visit Department Stores Or Shopping Malls More Often, By Demographics,
December 2013
figure 107: Other Features That Would Encourage Shoppers To Visit Department Stores Or Shopping Malls More Often, By Demographics, December 2013
figure 108: Features That Would Encourage Shoppers To Visit Department Stores Or Shopping Malls More Often, By Most Popular Relative Advantages Of
Department Stores Or Shopping Malls, December 2013
figure 109: Features That Would Encourage Shoppers To Visit Department Stores Or Shopping Malls More Often, By Next Most Popular Relative Advantages
Of Department Stores Or Shopping Malls, December 2013

appendix – Consumer Attitudes Towards Department Stores And Shopping Malls

figure 110: Consumer Attitudes Towards Department Stores And Shopping Malls, December 2013
figure 111: Agreement With The Statement ‘convenient Location Is One Of The Top Considerations When Deciding Which Department Store/mall To
Go To’, By Demographics, December 2013
figure 112: Agreement With The Statement ‘having Similar Types Of Stores Clustered On One Floor Can Make The Shopping Experience More
Convenient’, By Demographics, December 2013
figure 113: Agreement With The Statement ‘it’s More Convenient To Do One Big Shop Under One Roof Than Visiting Several Different
Places’, By Demographics, December 2013
figure 114: Agreement With The Statement ‘shopping Malls Are A Better Place To Visit With Other People Than Department Stores’, By
figure 115: Agreement With The Statement ‘older/more Established Department Stores/shopping Malls Are Better Places For Shopping Compared With
Those New Ones’, By Demographics, December 2013
figure 116: Agreement With The Statement ‘i Prefer Visiting High-end Department Stores/shopping Malls’, By Demographics, December 2013
figure 117: Agreement With The Statement ‘it Is A More Enjoyable Experience To Shop At A Department Store/shopping Mall When It Is Less
Crowded’, By Demographics, December 2013
figure 118: Agreement With The Statement ‘there Is Currently A Lack Of Leading Brands In Department Stores/shopping Malls’, By
figure 119: Agreement With The Statement ‘crowds In Food Halls/long Queue At Restaurants Put Me Off Dining In Department Stores/malls’, By

figure 120: Agreement With The Statement ‘visiting Shopping Malls Is More Fun Than Department Stores Because It’s Not Just About
Shopping’, By Demographics, December 2013
figure 121: Agreement With The Statement ‘it Is More Fun To Combine Shopping With Other Entertainment’, By Demographics, December 2013
figure 122: Agreement With The Statement ‘it’s Important That Entertainment Facilities Are Offered To Keep Companions Entertained While I
Am Shopping’, By Demographics, December 2013
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Department Stores-China-February 2014:Industry Analysis Report