China

READY FOR WARFARE IN THE AISLES Aug 3rd 2006  For both national and foreign retailers, china is a market of unprecedented opportunity. only when it is turning into a battleground TIRED after a persistent day helping to propel the worlds most dynamic scrimping to new heights? Then relax under a luxury duvet, filled with the chest fluff plucked from 3,000 Icelandic wigeon, priced at a mere 110,000 yuan ($14,000) and lighter than the bag it comes in. surface-to-air missiles Club in Shenzhen, Chinas richest city, sold its entire stock of tierce (only 50 argon made each year) during the Chinese restrict Festival. Or choose a solid gold bottle of BAIJIU liquor for the equivalent of $11,000 or a 65-inch television for $15,000. It is not so overmuch the high prices that are surprising, but that the Shenzhen superstore is part of Americas elephantine Wal-Mart, which is famous for selling Western consumers cheap goods made in China. lavishness puts the shine on Chinese retailing, although the business is mostly nearly selling more than mundane things. Hence the Shenzhen Sams Club in any case stocks gallon drums of cooking oil, plastic cups and other everyday items at reduced prices.

The sprinkling of expensive stuff among the bargains says much about the aspirations of modern Chinese consumers, as well as the heroic efforts of the worlds retailers to win a share of their wallets. The scramble to open stores has made China a nirvana for shoppers, but for shopkeepers it has become a brutally competitive market in which only the strong will survive. Enormous numbers are luring global retailers to set up shop in China and homecoming on a growing band of local operators. Chinas retail sales are set to expand by 13% to the equivalent of $860 billion this year, making the mainland the worlds seventh-largest retail market. Annual chemical compound growth rates of 8-10% will push this to an enormous $2.4 one million million by 2020. HERE COMES THE MIDDLE CLASS There are more than one million affluent urban households,... If you want to subscribe a full essay, order it on our website: Orderessay

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