According to data from the National Bureau of Statistics, in the first half of 2024, the retail sales of department stor
Posted: Thu Dec 12, 2024 5:43 am
According to data from the National Bureau of Statistics, in the first half of 2024, the retail sales of department stores above the designated size decreased by 3% year-on-year, the total revenue of listed department stores fell by about 3.95% year-on-year, and the total net profit plummeted by about 33.57% year-on-year, indicating that department stores are facing great operating pressure.
In contrast, outlet sales are rising steadily. Statistics from the macedonia whatsapp number data 5 million Branch of the China General Chamber of Commerce on 60 to 80 key outlet projects across the country show that in the first quarter of 2024, outlet sales increased by 7.8% year-on-year, and customer traffic increased by 14.1% year-on-year; in the second quarter, sales increased by 4.8% year-on-year, and customer traffic increased by 10.9% year-on-year; in the third quarter, sales increased by an average of 3.7% year-on-year, and customer traffic increased by an average of 5.9% year-on-year.
These data show that in the current consumption environment, consumers are increasingly inclined to choose outlets with better value for money and richer shopping experiences, while department stores are facing greater market challenges.
Sales of traditional department stores and shopping malls will show a downward trend in the second half of 2024. The main reasons are:
First, with consumption downgrade, department stores find it difficult to meet the requirements of product cost-effectiveness and shopping center experience, resulting in consumer loss.
Second, the impact of online shopping, including Pinduoduo's low-price sales and the rise of live-streaming e-commerce, has made online shopping a mainstream consumption method. It is cheap and fast, which has had a huge impact on offline traditional department stores.
Third, the increasingly high operating costs, amidst the downward trend in consumption, have created tremendous operating pressure on tenants. When combined with commodity prices, they have lost value for money and affected consumer purchasing intentions.
Outlet sales are rising steadily. The logic behind this is that outlets cater to the current consumption downgrade and have several main advantages:
First, well-known brands and discount advantages provide consumers with high-quality, high-quality-price-performance products.
Second, it has a clear positioning, focuses on the mid-to-high-end discount market, and competes in a differentiated manner with traditional department stores.
Third, in addition to shopping, outlets have also further integrated diversified business formats such as catering and entertainment to provide consumers with a one-stop shopping experience and attract more young people.
Outlets are more in line with the current consumption downgrade and are constantly improving their business formats and services. They are favored by more consumers who are tightening their purse strings and making them spend real money.
In contrast, outlet sales are rising steadily. Statistics from the macedonia whatsapp number data 5 million Branch of the China General Chamber of Commerce on 60 to 80 key outlet projects across the country show that in the first quarter of 2024, outlet sales increased by 7.8% year-on-year, and customer traffic increased by 14.1% year-on-year; in the second quarter, sales increased by 4.8% year-on-year, and customer traffic increased by 10.9% year-on-year; in the third quarter, sales increased by an average of 3.7% year-on-year, and customer traffic increased by an average of 5.9% year-on-year.
These data show that in the current consumption environment, consumers are increasingly inclined to choose outlets with better value for money and richer shopping experiences, while department stores are facing greater market challenges.
Sales of traditional department stores and shopping malls will show a downward trend in the second half of 2024. The main reasons are:
First, with consumption downgrade, department stores find it difficult to meet the requirements of product cost-effectiveness and shopping center experience, resulting in consumer loss.
Second, the impact of online shopping, including Pinduoduo's low-price sales and the rise of live-streaming e-commerce, has made online shopping a mainstream consumption method. It is cheap and fast, which has had a huge impact on offline traditional department stores.
Third, the increasingly high operating costs, amidst the downward trend in consumption, have created tremendous operating pressure on tenants. When combined with commodity prices, they have lost value for money and affected consumer purchasing intentions.
Outlet sales are rising steadily. The logic behind this is that outlets cater to the current consumption downgrade and have several main advantages:
First, well-known brands and discount advantages provide consumers with high-quality, high-quality-price-performance products.
Second, it has a clear positioning, focuses on the mid-to-high-end discount market, and competes in a differentiated manner with traditional department stores.
Third, in addition to shopping, outlets have also further integrated diversified business formats such as catering and entertainment to provide consumers with a one-stop shopping experience and attract more young people.
Outlets are more in line with the current consumption downgrade and are constantly improving their business formats and services. They are favored by more consumers who are tightening their purse strings and making them spend real money.