Published on : Jul 06, 2018
Albany, New York, July 6, 2018: Adoption of novel retail means such as omni-channel business platform, improved service offerings, and adequate supply chain flowchart, have contributed substantially towards the growth of China’s departmental stores industry. To evaluate the implications of ongoing developments and recent trends on the growth of China’s departmental stores industry, Market Research Hub (MRH) has collated a new report titled, ‘Chinas Department Stores Report 2017-2018’, to its database.
Millenial Affinity for Luxury Retail Dominates China’s Departmental Store Industry
To synchronize with rapidly transitioning end-user demands, retailers in China’s departmental stores industry are laying primary focus on incorporation of advanced technologies, besides optimization of services. Offline retailers have increasingly taken to online modes of businesses to upgrade their ventures, thereby ensuring their sustenance in the stiff competition matrix of China’s departmental stores industry.
Additionally, online retailers have also concentrated their resources in establishing physical stores, thus paving way for hybrid retail model in China. Strategic partnerships and acquisitions continue to benefit virtual and physical retailers, thus enabling leading retailers to establish a strong foothold in China’s departmental stores industry.
Tmall, Alibaba's flagship Chinese B2C retail website is a unique instance of new age retail in China's departmental stores industry. To penetrate into China's growing luxury retail market, leading fashion brand, Moschino has recently signed a deal with e-commerce giant, Alibaba to unleash its exclusive product portfolio, including Moschino x Tmall on Alibaba's Tmall Luxury Pavilion. With absolute access to Alibaba's new online retail platform as well as its advanced technologies, Moschino aims to find a steady market in China's departmental stores industry, by targeting China’s evolving millenials.
Further, to leverage online customer retention and serve best user experience, Tmall Luxury Pavilion has recently launched new plans and offers targeted for high end shoppers. This new scheme rolled out for habitual mega buyers will offer an array of special services inclusive of payment flexibility, besides discounted hotel stays and spa and salon treatment sessions for the loyalty club members. By serving the rising aspirations of exclusive luxury shopping Tmall’s innovative club membership envisages to harbor its lead in China’s departmental stores industry.
Veritable research postulates included in the report present readers with a complete overview of the factors that instill growth in China's departmental stores industry. This section of the report identifies transitioning end-user expectations and emergence of new technologies in e-commerce as potent drivers of growth in China's departmental stores industry. Besides, merger of online and off-line commerce has augmented o2o business structures that strengthens growth in China's departmental stores industry. Additionally, elaborate research postulates compiled in the report aid readers in identifying the factor attributed for maximization of revenues in China's departmental stores industry.
Competitive Landscape: China's Departmental Stores Industry
Unbiased and thorough research findings encapsulated in the report enlighten readers about the various business strategies adopted by core players in China's departmental stores industry. The report also informs readers about the impact of these strategies in triggering favorable end-user preferences and eventual end-user purchase decisions. The report also provides vital insights about the impact of these strategies in spearheading growth in China's departmental stores industry. With the aid of such insightful data, new entrants as well as existing players in China's departmental stores industry can facilitate detailed analysis of these strategies to infer core deductions and perspectives that guide market players in employing cost efficient, profit driven business plans and investment decisions to ensure growth in China's departmental stores industry.
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