China Retail & E-commerce Weekly Update presents the latest developments in two of China’s fastest changing and rapidly evolving markets – retail and e-commerce.

Key highlights in this issue:

I. Sector Review

Internet & E-commerce

• Weixin Channels launches local lifestyle services business
• Kuaishou 2023 ESG Report: Kuaishou creates 40.22 million employment opportunities

Supermarkets & Hypermarkets

• Costco launches ‘Costco Home Delivery’ online shopping platform
• JD.com’s 7Fresh supermarket chain launches city-wide delivery service in Beijing

Apparel

• Li Ning’s retail sell-through increase slightly in 1Q24 as its e-commerce business grows by over 20% yoy
• MLB hopes to expand outdoor goods business in China through sub-brands
• American denim brand True Religion enters the Chinese market
• Peacebird reshapes brand image to promote its brand strategy

Cosmetics

• L’Oreal’s China sales increase by 6.2% yoy in 1Q24

Food & Beverage

• Tims China achieves 56% yoy revenue growth in 2023

Miscellaneous

• Pop Mart’s 1Q24 revenue increases by 40%-45% yoy
• Suning Industrial Product launches new plan to build 1,000 unmanned front-end warehouses in the next three years

II. Market Overview

• 82 first stores open in 1Q24 with Beijing surpassing Shanghai as first store destination
• MOFCOM: Over 70 million people are employed in e-commerce jobs nationwide