Omnichannel retail and brand loyalty in China
China's retail market presents brands with a considerable commercial opportunity. It is the world's second-largest retail market with a share of approximately 21% and it is expected to surpass the USA as the world's first retail market as early as 2021.1
More specifically, the Chinese cosmetics market is currently valued at $19bn and is projected to grow annually by 11.0% (CAGR 2020–2023) to $26bn by 2023 (Figure 1).
In terms of Chinese consumers’ shopping preferences, data from the Chinese retail market show...