Market Outlook: Department Stores in China—Consumer Shift Toward E-Commerce Squeezes Sales

Published – July 2023

Traditional department stores in China have been greatly impacted by the rapid development of online shopping in the country in recent years. Some have started to transform in response to the change, while others now face bankruptcy. As part of the Market Outlook series from Coresight Research, we dive into the Chinese department stores sector—covering its size and competitive landscape, as well as factors and themes impacting its growth—to offer insights that can help relevant department stores, brands and other retailers. 

Data in this research report include: 

• Market size and year-over-year growth rates for Chinese department stores for 2018–2027E 
• Year-over-year changes in China’s GDP for the first quarter of 2019 through the first quarter of 2023 
• Overall urban and urban youth unemployment rates in China for May 2022 through May 2023 
• 2022 revenues of the top 20 department store groups in China 

Introduction 

Department Stores in China: Performance and Outlook 

• China Department Stores Market Sizes 

Market Factors 

Competitive Landscape 

Themes We Are Watching 

• Boosting Online Sales Through WeChat and Livestreaming 
• Community Marketing 
• Technologies in Offline Operations 

What We Think 

• Department Stores Poised to Gain Advantage 
• Department Stores That Risk Losing Advantage 
• Implications for Brands/Retailers 
• Implications for Technology Vendors 

18-page PDF report

Companies mentioned in this research report include: Alibaba (NYSE: BABA), Chongqing Department Store Co. (SHA: 600729), Easyhome New Retail Group (SHE: 000785), Shanghai Bailian Group (SHA: 600827) 

1. China: Department Stores Market Size (Left Axis; USD Bil.) and YoY Change (Right Axis; %) 
2. China: YoY Changes in GDP (%, Seasonally Adjusted) 
3. China: Total Urban Unemployment Rate and Urban Youth (Aged 16 to 24) Unemployment Rate (%) 
4. China: Revenues of Leading Department Stores (Groups), by Total Group Revenue (USD Mil.)