China: Annual Retail Report
China’s economic growth rate has dropped for the fifth consecutive year; it however continues to be a huge potential food market that U.S. exporters should not ignore. Food consumption accounts for 31% of the annual urban household expenditure. There are multiple challenges in such a complicated and changing market. Demand for imported food and beverage is expected to remain resilient. The major drivers of China’s retail growth include continuous urbanization and rising number of middle class as well as the increasing per capita disposable incomes. In addition, innovative business models such as internet and mobile business have created vibrant marketplaces and shopping tools.
