Although department store was affected by other retail formats, especially the e-commerce, the department store industry still maintained a considerable scale and prospect. According to the annual operating data of 80 member companies of Chinese Commerce Association for General Merchandise (CCAGM), in 2015, the sales value of department stores reached CNY 439.765 billion, increasing by 9.30% over 2014. In 2015, the operating area of 80 members increased, reaching 13.32 million m2, up by 10.42% YOY.
Despite the decreased economic growth rate, the consumption change is accelerating. Physical department stores are confronted with impacts from e-commerce and large business complex. Meanwhile, the industry has taken measures and many department store companies have set up online sales platforms or entered third party platforms. To combine online and offline modes is a reform on the single operation model, which not only gives full play to the strengths of high quality service of traditional department stores but also meets diversified demand of consumers.
In this report, CRI analyzes 21 department store enterprises listed in A-share market in China.