The turnover of retail in integrated markets in China experienced fluctuations from 2013 to 2023. Between 2013 and 2017, the market saw slight growth despite minor setbacks, but a continuous decline started from 2018, plummeting to 3.31 hundred billion yuan by 2023. The year-on-year variation from 2021 to 2023 showed a mixed trajectory, with a modest increase in 2022 followed by a small decrease in 2023. Over the last five years, the compound annual growth rate (CAGR) was negative, reflecting a substantial downturn in the market.
Future trends suggest a continued decline with the forecast anticipating the market to shrink to 2.78 hundred billion yuan by 2028. Key factors to watch for include shifts in consumer preferences, the impact of digital retail transformations, and economic policies in China that could either hinder or stimulate market activity in integrated retail.
