China's retail industry starts post-epidemic recovery on all fronts
According to the latest world economic outlook by the International Monetary Fund (IMF), global growth in 2020 is projected to fall by 3 percent. For this year, growth in advanced economies is projected at -6.1 percent. Specifically, growth will drop by 5.9% in the United States and 7.1% in the European Union. Emerging market and developing economies are also projected to have negative growth rates of -1.0 percent in 2020. The forecast for China's economic growth is positive 1 percent. As economies around the world are hard hit by Covid-19 outbreak, China continues to consolidate and grow its global economic share and position despite all adversities.
At present, China's retail industry gradually regains its vitality as Covid-19 outbreak is brought under control across the country. According to the 2nd issue of the "Survey and Report on Resumption of Work and Production in the Retail Industry" by the China Commerce Association for General Merchandise (CCAGM), as of April 13, 96% of the surveyed enterprises have resumed 90% normal work, and 46% of them have restored 60-70% of normal sales. On March 2, Jinan handed out vouchers worth 20 million yuan to stimulate spending on tourism and culture. Cities in Zhejiang, Shandong and Jiangsu followed suit, with some distributing vouchers worth over 100 million yuan. On April 19, Wuhan launched a 2.3-billion-yuan voucher campaign to support local businesses and drive online and offline consumption.
Covid-19 pandemic accelerates digital transformation and gives rise to smart retail technology
It is worth noting that the recovery in retail sales is significantly faster than that of passenger traffic. This is largely due to the developed online retail. Covid-19 pandemic has pressed the “speed up button" for the transformation of offline retailers. Brands are increasingly using digital tools to attract and connect with consumers for commercial outcome.
Smart retail technology has always been an emerging segment of the industry, and one of five dimensions of C-star over the years. C-star 2020 will be held from September 2-4 at the Shanghai New International Expo Center, bringing together specialized service providers including Xovis, Koscar, Sunmi, Cloud Pick, DB Scale, Keewin, T-scale, Kiton, TSD, Adelante, CCL Tech, who focus on cutting-edge smart retail technology, to provide outstanding corporate solutions for online and offline integration.
Time to book your booth at C-star 2020 before it’s too late. Visitor pre-registration is in full swing
C-star 2020 will continue focus on the inspiring and new solutions in Shopfittings and Shop Furnishings, Store Design & Visual Merchandising, Smart Retail Technology, Lighting, Catering Hospitality Equipment and Refrigeration System, builds up a great business platform for retail solution providers and retailers across the globe.
As of now, 95% of the booths have been sold out. C-star 2020 is expected to welcome 200+ high-quality retail solution providers, including Futuristic, Changhong, Longsun, Yongcheng, Epson, Shangyoung, Sunmi, Cloud Pick, Lvsunny, Self, Candex, Ganter, Xovis, etc., and they will exhibit the latest and most practical equipment and technology on site. In addition, the two special zones – Designer Village and H!Tech Hub – will showcase disruptive innovations in design concepts and world-leading retail technologies.
Visitor pre-registration is in full swing. Click here or scan the QR code below to register with one click. A pre-registered visitor will get a free ticket and a complementary show catalogue, can also skip the admission line with the pre-registration code, and will be given priority to participate in exciting supporting programmes.
EuroShop RetailDesign Award China is looking for general jury candidates
EuroShop RetailDesign Award China (ERDA China) originates from Europe and is dedicated to recognizing the best store designs in China. There will be three rounds of assessment. The shortlist from the first round will be judged by a panel of 100 general jury members, followed by a third round of assessment by 10 retail experts from China and abroad. Three winners will be selected at the end of the process.
General jury is now open for application. If you are a senior manager from a brand company, shopping mall, or consultancy with unique insights into retail store design and consumer needs, please click here or scan the QR code to submit your application and join the general jury.
We will contact you promptly to confirm your participation and issue you a letter of appointment, C-star VIP visitor pass and invitation to the ERDA China ceremony. We look forward to your participation!
For more details about C-star, please follow C-star LinkedIn as follows.