Business Intelligence on Retailing, Franchising, and Consumerism in China

Shanghai: Retail Sales Increased 70-Fold Over Past 30 Years

According to statistics released from the 2008 Retailers Assembly held in Shanghai, over the past 30 years, the total retail sales of social consumer goods in Shanghai increased from CNY5.41 billion to CNY384.7 billion, an increase of about 70 times.

In the first eight months of 2008, the total retail sales in Shanghai reached CNY220.317 billion, a year-on-year increase of 16.7% and it collected business tax of CNY62.16 billion, a year-on-year increase of 23.7%.

At present, there are about 12,000 chain business sites in Shanghai. Most of the popular and fashionable names and brands, including modern department stores, hypermarkets, supermarkets, convenience stores, specialty stores, shopping malls and direct marketing centers, have opened in Shanghai and the total retail business area in the city has reached 40 million square meters.

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