China's major retailers lose shoppers

Want China Times, Xinhua 2014-09-21

People shop at Walmart supercenter in Fuzhou, July 8. (File photo/CNS)

Alibaba's historic IPO is more sad news for retailers in China, which continue losing shoppers as more Chinese chose to shop online.

Four of China's five largest retail groups lost customers in the 12-week period ending on Aug. 8 compared to a year ago, the latest snapshot data from UK-based market research company Kantar Worldpanel has shown.

The data also showed Chinese shoppers visited brick and mortar retailers less often than before.

Retailers Walmart, Vanguard, Carrefour and Bailian all had fewer shoppers than a year ago, suffering a decrease of 5.7%, 3.4%, 4.7% and 4.7%, respectively,

Only Sun Art Group managed to increase its shopper numbers by 1.7% year-on-year.

Though the value per basket is higher for all five retail groups, this increase does not offset the potential damage brought by fewer shoppers and fewer visits by shoppers.

In the 52 weeks up to June 13 of 2014, 32% of Chinese urban households purchased fast-moving consumer goods online, an increase of 44% from two years ago, according to Kantar Worldpanel China.

Following preliminary investigations into its UK food business, Tesco said it believes

 that guidance regarding group profits for the six months to August 23 "was overstated

by an estimated £250 million" (AFP Photo/Leon Neal)

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