Total retail sales in Guangzhou in 2012 reached RMB597.7 billion, increased 15.2% year on year, but the growth rate slowed 1.9 percentage points. It is worth noting that due to the rapid growth of E-Business, total online retail sales increased 160% last year in Guangzhou. Although revenue growth from department stores slowed down, it still accounts for the major part of Guangzhou’s retail sales. The seven biggest department stores (Grandbuy, Friendship, Teemall, Mopark, Simgo, Dongbai and Wangfujin) are all on the list of Top 30 Retail Companies 2012 published by Guangzhou General Chamber of Commerce.
Source : Cushman & Wakefield