1、CHINAS DEPARTMENT STORES REPORT 2017-2018 March 2018 DEPARTMENT OF CIRCULATION INDUSTRY DEVELOPMENT, MINISTRY OF COMMERCE OF THE PRC CHINA COMMERCE ASSOCIATION FOR GENERAL MERCHANDISE FUNG BUSINESS INTELLIGENCE Introduction In 2017, Chinas department store sector witnessed a positive rebound with so
2、me signs of stable recovery. After consecutive years of lackluster sales and dropping profitability, the sector as a whole has started to reap the benefits of business upgrading and transformation. The majority of department store operators have stepped up efforts to construct omni-channel business
3、models, optimize supply chain systems, enrich merchandise and service portfolios, explore new retail formats and enhance customer experience. They have actively deployed new technologies to meet the rapidly changing consumer needs. For the third consecutive year, Fung Business Intelligence collabora
4、ted with China Commerce Association for General Merchandise (CCAGM) to produce the Chinas Department Stores Report 2017-2018. This year, we are honored to have the insightful contributions from the Department of Circulation Industry Development, Ministry of Commerce of the Peoples Republic of China
5、in producing this report. The report analyses macroeconomic data, collects financial reports from 85 domestic department store operators to gauge the sectors performance in 2017. It also discusses the key trends and major challenges faced by the sector and addresses the implications and future outlo
6、ok of Chinas department store sector in the “New Retail” regime. We would like to express our utmost gratitude to all department store operators and industry experts who have supported us and participated in the preparation of this report. Table of Contents Executive Summary 1 I Market Overview 3 1.