US retailers are feeling confident about China's continued growth. (Maybe the focus of China's economic stimulus plan on encouraging its citizens to spend has helped). Of course, the validity of Chinese government released data is always under dispute, but the numbers show over 20% growth in December, despite surveys that say Chinese consumers are cutting back.
Thursday's Wall Street Journal reported the following expansion by international retailers:
Ikea - plans 2 stores in 2009, currently has 6 stores in the country.
Walmart - currently has 217 retail stores
Carrefour- plans 28 stores in 2009, up from 22 in 2008.
Tesco (UK) - continued expansion
Parkson Group (Hong Kong - opening 4 or 5 stores, currently have 42 department stores.
Notably, Aeon (Japan), is delaying 100 stores to Feb 2013.
The WSJ suggests that as they did in Tokyo in the 1990s, retailers may take advantage of falling real estate to buy desirable retail spaces, saving them leasing costs in the future.
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