The HKUST Li & Fung Supply Chain Institute (Institute) and China Commerce Association for General Merchandise (CCAGM) jointly released the China’s Department Stores Report 2025-2026 (the “Report”). Based on a joint survey conducted by the Institute and the CCAGM, the department store industry in 2025 showed a severe trend of simultaneous decline across four key metrics—sales, profit, customer traffic, and average transaction value.
The Report shows that China’s macroeconomy maintained steady growth in 2025, with GDP expanding 5.0% year-on-year (yoy) and total retail sales of consumer goods surpassing RMB 50 trillion. The Institute forecasts that China’s GDP and total retail sales of consumer goods will grow by 4.7% yoy and around 4.5% yoy, respectively, in 2026.
China’s Department Stores Report 2025-2026 collects and analyzes data from around 100 department store operators in Mainland China. The report analyzes development trends in the industry in the past year, discusses major issues and challenges facing the industry, and puts forward policy recommendations from retail enterprises to promote the healthy development of the industry.