Despite China's slowing economic growth, the retail industry in the world's second-largest economy will maintain sustainable growth in the medium and long term. “Following the restructuring process of the economic growth model, the improvement of the consumption structure, the advancing urbanization, and especially the development of e-commerce, China's retail industry in the remainder of the 12th Five-Year Plan (2011-2015) will maintain steady growth," said Wang Desheng, deputy director of the department of circulation industry development at the Ministry of Commerce.
Meanwhile, the industry is undergoing a transformation and the government will make more efforts to enhance its quality and efficiency and to optimize its structure. In 2013, as retailers confront challenges in China, many are scaling back plans for new stores and choosing sites more carefully. Not only global retailers but also local physical stores are facing hard times.
Yet at the same time, there are great opportunities in this era of transformation. China Retail Focus 2014 will discuss the right direction, strategic opportunities and potential challenges in this exciting time by bringing together 300+ top industry players under the same roof.