In this on Jan 3, 2012 photo, a woman walks past a 7-Eleven convenience store in Beijing. (ED JONES / AFP)
BEIJING – China's chain convenience stores grew steadily in number and sales last year, a report showed.
The report said Chinese convenience stores are increasing investment in new retail and logistics technology to reduce costs and increase efficiency
The number of chain convenience stores reached about 106,000 last year, up 13 percent year on year, according to a report released by the China Chain Store and Franchise Association (CCSFA) and Boston Consulting Group.
READ MORE: Unmanned convenience stores come to Shenzhen
Total sales exceeded 190 billion yuan (US$29.75 billion) in 2017, up 23 percent year on year, the report showed.
The report pointed out that China's convenience stores face rising costs while their gross margins still lag behind leading international players.
Chinese convenience stores are increasing investment in new retail and logistics technology to reduce costs and increase efficiency, the report showed.
Another report by CCSFA showed that Changsha, capital city of Hunan province, posted the strongest growth in convenience stores last year, followed by Shenzhen and Taiyuan.
Copyright 1995 - 2021. All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily. Without written authorization from China Daily, such content shall not be republished or used in any form.