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Major online retailers extend price war to high street

(Xinhua)

15:20, August 18, 2012

BEIJING, Aug.17 (Xinhua)-- The ongoing price wrestle between Chinese online retailing giants has spread from the virtual world as the country's home-appliance retailers continue to struggle to survive amid sluggish market conditions.

After offering massive discounts on its online shopping portal, Suning Appliance, the country's top retailer in terms of sales in 2011, has announced the dropping of prices of major home appliances in its stores in Beijing to the same levels as those online.

Meanwhile, Gome Electrical Appliances also promised rewards to consumers if they find prices in Gome's offline stores higher than items sold by rivaling e-commerce giant 360buy Jingdong Mall.

But it remained questionable to what extent the traditional retailers can withstand the price war, which started on Wednesday morning, as both online and offline home appliance retailers are suffering pressure from sluggish sales in a gloomy market.

A report jointly released by international auditing firm Deloitte and the China Chain Store and Franchise Association (CCSFA) on Friday showed that Chinese chain retail stores saw sluggish or even declining sales growth from the second half of 2011 due to rising costs and fierce competition.

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