西北能源监管局筹备组建 “西北电力综合安全专家库”

China's top 100 retail chains booked a combined 2.13 trillion yuan ($294 billion) in sales in 2024, up 4.9 percent from the previous year, as the consumer market showed signs of recovery led by discount snacks, membership warehouse formats, and specialty retailing, according to an industry survey.

The total number of stores expanded 13.5 percent year-on-year to over 257,200, according to the survey released by the China Chain Store & Franchise Association.

The composition of the retail elite is shifting.

Among the Top 100, specialty stores — particularly in food and leisure snacks — posted the strongest momentum, achieving double-digit growth in both revenue and store count.

Convenience stores also sustained double-digit growth, but at a slower pace than in 2023, while supermarkets reported improved single-store efficiency. General retailers, however, continued to face margin pressure, with fewer than half logging sales gains.

All of the net new stores added in 2024 on the list came from convenience and specialty chains. One of the biggest winners is Hunan province-based Snack Busy Co Ltd, a bulk-snack chain that surged into the Top 10 for the first time.

It reported 55.5 billion yuan in revenue in 2024, up 132.7 percent year-on-year, and nearly doubled its footprint to 14,394 stores — the fastest growth among all Top 10 companies.

Jason Yu, general manager of CTR Market Research, said: "Snack stores have been one of the fastest-growing retail channels in recent years, rapidly expanding their market presence."

Snacks, with their low prices, effectively attract consumers who are more receptive to low unit prices and small packaging or bulk options, he added.

The 2024 Top 10 list saw a reshuffle, with Hunan Snack Busy replacing legacy names like CR Vanguard and Lianhua Supermarket.

Retailers including RT-Mart, Suning.com, Yonghui Superstores and Wumart remain on the Top 10 board.

Walmart China once again topped the ranking, generating 158.8 billion yuan in sales despite an 8.5 percent drop in store count to 334.

The US retailer's focus on high-performing Sam's Club stores paid off: its fiscal year 2025 (ending January 2025) saw double-digit growth in both net sales and e-commerce sales across all four quarters.

By the end of the first quarter of fiscal year 2026, Walmart operated 54 Sam's Clubs and 280 hypermarkets in China, with total net sales up 22.5 percent year-on-year to $6.7 billion.

Sam's membership income rose over 40 percent in the same quarter. Walmart China plans to continue opening 6-7 Sam's locations per year.

Yu of CTR said Walmart's traditional hypermarket format has undergone some renovations, but this model still faces significant challenges in the Chinese market, leading to a number of voluntary store closures.

wangzhuoqiong@chinadaily.com.cn