麥肯錫報告中國路邊的零售業(yè)(編輯修改稿)
2024-09-10 23:46 本頁面
【文章內(nèi)容簡介】 will probably dwindle to the cost of transport and storage as WTO mitments and other reforms take effect. The truth is that the economics of most sites won 抰 work unless there are significant nonfuel sales, for they improve site margins by lifting revenues without raising costs in a parable way (Exhibit 2). Petroleum panies thus have three possibilities: they can focus on the retail opportunity of their sites, concentrate on a highquality fuel service through the highestvolume sites, or ignore retail altogether and be wholesalers of modity fuels.THE RETAIL STRATEGYElsewhere in the world, multinational oil panies have pensated for tight margins on gasoline by investing in additional revenue streams. This kind of strategic behavior takes place in the context of a global retail sector moving from ownership of product categories to ownership of retail occasions梩 he waytowork or weekend stop for gasoline and incidentals, routine Saturday shopping, the less frequent household stockup. Gasoline stations are designed to attract customers who want more than just fuel for their cars, and in Europe and the United States these formats now generate as much revenue from extras as from gasoline.In developed economies, this model has been adopted slowly because it takes time to convert or dismantle the legacy assets of a longestablished gasolineonly strategy. Chinese players have an opportunity to go straight from the basic gasoline model to integrated retailing. Yet so far, PetroChina, Sinopec, and even the multinationals have been reluctant to pursue nonfuel retail strategies on their current sites, for they have been persuaded that, in China, the ubiquity of local momandpop stores means that convenience stores at gasoline stations are redundant and that margins on nonfuel items are too thin. The marketing efforts of these panies have thus been confined to gasoline, and their sites offer no more than a limited selection of lowcost additional goods and services such as cigarettes, snacks, and auto lubricants.Noheless, the integrated retail model for gasoline stations can succeed in China. As working hours and prosperity increase, the Chinese are more and more willing to pay for convenience and brands. Car drivers, who are generally among the most affluent people in the country, are beginning to demand offerings not available at momandpop stores, such as foreign brands and technologybased services. And the economics should work, since even small nonfuel items often have profit margins of more than 50 percent. Owning a work of sites further improves margins for individual locations by delivering scale benefits for overhead costs such as marketing and administration as well as purchasing scale for both fuel and nonfuel items.The key is to start with an attractive retail site 梡 erhaps incorporated into an entertainment or mercial development that could also draw pedestrians 梐 s opposed to a pure gasoline stop. Chinese consumers are already familiar with retailing concepts such as hypermarket chains, specialty stores, and greatly improved supermarkets and department stores, which have all emerged over the past 10 to 15 years. Most of these formats have been successful, though convenience stores have fallen prey to oversupply and margin Given this rather mixed experience, profitability will depend on three factors.The first is early entry into the market. Only panies that have been quick to introduce innovative formats and to gain national scale have made their retail ventures pay. Carrefour led the pack with hypermarkets, thereby securing a leading market share and leaving local and foreign petitors with less attractive locations. Yet the need to build scale quickly shouldn 抰 persuade panies to overpay。 instead they should look for opportunities in midsize cities, which represent up to 40 percent of national demand for gasoline and where retail demand is now growing fastest. Here there is still a chance to enter the market early and to establish a strong brand presence without overpaying for sites.Developing the right retail proposition is the second factor. China 抯 newly affluent con
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