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China's Unattended Retail Market Reached 20 Billion

Author:admin Source:本站 Update:2018-1-5 8:50:26   Click:197
Brief Report of Unattended Retail Market in China

Unattended retail sector in China mainly features low labor cost, optimized shopping experience, tech-oriented data base, digitized vending process, smart vending.

Market Potential and Outlook
China’s Unattended Retail Market Reached Roughly CNY¥20 Billion

Unattended retail ventures currently could be categorized into three forms: smart vending machines, unattended shelves and unattended convenience stores. The first one now has entered into a mature market performance while the last two have been flourished in 2017.

Throughout the whole vending industry as of Nov. 2017, the inventory volume of smart vending machines is totaled at 400, 000 units whilst the market scale is at about 18 billion yuan. As for unattended shelves, the number of shelves operated, reached 25,000 to 300 million yuan. Approximately 200 unattended convenience stores opened, with estimated CNY 40 million market scale, in 2017.

In 2017 alone, the unattended retail market, including vending machines sector, is expected to reach 20 billion yuan conservatively whilst as of 2020 the market share will record 65 billion yuan along with roughly 50% CAGR , in accordance with the updated statistics of iResearch.

Governmental Incentives For Prosperity and Innovation of Unattended Retail
The State Council and provincial governments have made clear-cut views and supports on facilitating the innovation of brick-and-mortar retail stores. Innovative technology plays an increasingly important role in the transformation of conventional retail industry. Meanwhile unattended retail as an innovative business mode has caught the attention of Ministry of Commerce of the P.R.C.

For instance, Market Report on Popularity of China’s Convenience Stores, Framework of Retail Technology and Innovation, Guideline of China’s Unattended Stores Business are put forward to boost the industry of unattended retail.

Retail Enterprises Expected to Expand Market Scale
Tough most of unattended retail stores were in an internal beta or operation test during the first half year of 2017, not a few leading enterprises leaped out and launched their new products in the second half year. Predictably, the technology for unattended retail store will be optimized remarkably. Within two or three years the unattended retail sector will witness phenomenal improvements of the number of enterprises, users, outlets, frequency of use , as well as the transaction volume.

(sources from:http://www.iresearch.com.cn)

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