New Report For Chinese Top 100 Chain Store Reveals Steady Online Sales Growth

China continues to reign as the world’s largest online retail market. The annual online sales revenue of the top 100 chain sellers in China totalled 470 billion Yuan (US$69.61 billion) and online consumer goods retail hit 10.8 trillion Yuan.

According to the latest report on the Top 100 Chain Stores in China, released by the China Chain Store & Franchise Association (CCFA) in June 2022, the sales volume of Top100 chain enterprises will be nearly 2.3 trillion Yuan, a year-on-year decrease of 2.8%. The total number of stores also rose to nearly 190,000, a year-on-year increase of 8.9%. The sales growth of the four major retail formats including department stores, supermarkets, convenience stores, and speciality stores increased significantly too. 

Similarly, among the Top 100 chain companies in 2021, 68 companies have increased their sales year-on-year (up from 47 in the previous year), and 60 have increased the number of stores (a slight decrease from 66 in the previous year ). 12 companies achieved double-digit growth in sales and store numbers, namely Easyhome, Meiyijia, Dashenlin, Aunt Qian, Lawson, Yichu Lotus, Qi - Shiyi, Laiku Technology, and Tianfu. Moreover, Jianzhijia, Shoukang Yongle, Biyoute. Among them, Meiyijia, Dashenlin, Aunt Qian, Tianfu, Jianzhijia, and Biyoute achieved double-digit growth in sales and stores for two consecutive years.

The Top 100 Chain Stores in China in 2021 survey shows that more than 80% of the Top 100 chain companies expect sales to increase in 2022, and half of them believe that the growth rate will be more than 5%. In terms of online sales, more than 90% of the Top 100 chain companies are expected to grow further, and nearly 60% of the companies are expected to grow by more than 10%.

Interestingly, June is also the month when major Chinese retailers host the mid-year e-commerce shopping festival known as 618, possibly the second largest shopping festival in the world.

Recent reports on China’s Annual 618 Shopping Festival show that China is roaring again as all major Chinese e-commerce platforms have reported high record sales during the June 18 shopping festival.

Although the "618" shopping festival was proposed by China's e-commerce giant JD.com to celebrate the company's founding anniversary, it has now become a nationwide shopping spree with nearly all shops and merchants on and offline taking the opportunity to boost sales.

JD.com announced that sales during the nationwide mid-year shopping event totalled 379.3 billion Yuan. Interestingly the use of digital payments in Yuan has risen 18 times from last year to become 400 million Yuan. JD.com kicked off "peak 28 hours" of the shopping festival at 8 pm Friday. The turnover of 11 stores on the platform exceeded 100 million Yuan in 10 minutes.

Suning.com too reported that the 618 shopping festival saw sales surge 182% as compared to last year and orders worth more than 70,000 Yuan saw an increase of 103 % year on year.