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E-commerce changes China's home textile retail business
10 Oct '13
1 min read
The rapid development of e-commerce has changed the traditional home textile retail business in China, according to an official of the China Textile Industry Association.
The growth of online sales has necessitated a need for speeding up innovation and adjusting to meet the market demand.
In 2012, about 80 medium-sized department store’s retail sales totaled 228.27 billion yuan, an increase of only 8.92 percent year-on-year. In comparison, the retail sales grew at an annual average rate of 16.5 percent from 2006 to 2011.
From the second half of 2011, the department store industry in China is encountering many difficulties, as it has entered a micro-growth era, according to the China Commerce Association.
Yang Zhaohua of China Home Textile Association said that in recent years, the rapid growth of e-commerce, does give the industry a lot of opportunities. The industry needs to explore new avenues and group into clusters, he said.
However, some analysts think the key is to give retail customers a good experience, by considering what the customers want and by being willing to deliver products where the customers want.
Fibre2fashion News Desk - India
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