Consumer credit checker, Callcredit Information Group, has launched a new tool to provide retailers with economic, demographic and retail location insight for 150 Chinese cities.
Since China’s re-emergence onto the global economic stage, four Chinese cities – Beijing, Shanghai, Guangzhou and Shenzhen – have epitomised the nation’s unprecedented growth and development, says the company.
Historically for most international retailers, these so-called tier one cities have been the logical entry points into the Chinese market. However, amid an increasingly diverse urban landscape there has been a marked rise in retailers choosing to spread beyond this in to tier two and tier three cities, says Callcredit.
Multi-national retailers are at the forefront of the push into China’s tier two and tier three cities, locked in a race to secure brand presence on an unprecedented scale as they seek first-mover advantage, says the company. Today’s ‘gold rush’ mentality is rooted in undeniable opportunities; nevertheless as retailers pursue expansion strategies they face execution challenges.
Callcredit claims its RetailVision China study provides intelligence on Chinese cities including:
Data on 157 cities split across tiers one, two and three, with a permanent population in excess of 1m (based on 2010 Census)
For each city Callcredit holds:
- 2010 GDP and GDP per capita data
- Consumer spend data
- Retail location data for international and major Chinese brands
- Retail categories, clothing/footwear, luxury, sport fashion, QSR/coffee shop, c-stores and supermarkets
- Retailers geo-coded and mapped to show the major shopping centres
Callcredit said it already has experience of providing retail location planning solutions in the Asia Pacific region, operating out of its Tokyo office, providing data to some of the world’s leading brands such as Adidas (including Reebok and Rockport) and Volkswagen.
Michael Jennings, international business development director, Callcredit Marketing Solutions, said: “This is a unique and up-to-date database created from our research of Chinese Cities and the retail industry. Any retailer considering entry into the vast and rapidly developing Chinese market can use this data to understand the scale of the opportunity, not just in the tier one and tier two cities, but also in the tier three cities where international retailers are already locating together in shopping centres and populating fast developing malls.
“The Chinese love shopping, they love brands and they love international products – retailers are clearly responding to this emerging shift towards consumerism as a way of life offering retailers potential windfalls, but in order to do so they need to make the right store investment decisions and we can help them do this in such a fast changing market.”