According to the data released by the China Chain Operations Association, in 2024, 3037 supermarkets in China closed their doors, with the number of stores in the Top 100 supermarkets decreasing by 2750. Some analysts believe that the traditional concept of large supermarkets offering “one-stop shopping” is gradually disappearing in China.
The report “2024 China Supermarket Top 100 Release” published on the official website of the China Chain Operations Association shows that in 2024, the total number of supermarket stores in China was 25,200, a 9.8% decrease compared to the previous year. The number of closed stores reached 3037, with a decrease of 2750 in the Top 100 supermarkets.
The report reveals that the supermarkets that closed include 62 large well-known chain supermarkets such as Walmart and RT-Mart. JiaBei Holdings (parent company of Century Mart) closed 1009 stores, accounting for one-third of the total number of closed stores in China, while 25 supermarkets saw an increase in the number of stores.
At the same time as the decrease in stores, the revenue of some large supermarkets has also declined, with Lianhua Supermarket seeing a 30% decrease in revenue. Overall, only 14 out of the TOP 100 companies achieved growth in both sales and number of stores.
The “2025 China Shopping Report” shows that from 2019 to 2024, the market share of supermarkets/convenience stores decreased from 34% to 32%, while that of hypermarkets sharply dropped from 19% to 13%. In contrast, the market share of e-commerce increased from 22% to 32%.
In response to this, the mainland China’s creator in the finance field, “Niu Tongtongtong”, analyzed on November 23 that the most fundamental reason is the depletion of offline traffic, with “e-commerce + instant retail killing traditional offline foot traffic systematically and irreversibly.”
On November 22, Chongqing Kuaida Brand Planning Co., Ltd.’s “Kuaiketai Finance” stated that it is not that offline retail has lost its future, but that retail lacking value has lost the market. Faced with pressure, traditional supermarkets must first improve operational efficiency through digital transformation; secondly, they need to create differentiated goods and service experiences; furthermore, they must rebuild emotional connections with consumers, and the key lies in who can truly understand the new generation of consumers.