H&M’s online store launches in its largest market
(Author : Aleksandra Ozimek)
H&M is expanding widely in the realm of e-commerce as it launches its online shop in China. The shop will feature the brand’s full product line, including its homeware collection.
The online shop will feature the entire brand of products, which will be released at the same time as in its 241 stores in China.
Shopping H&M online in China
The online store will also offer web exclusive products, according to the company. The Swedish retailer is attracting consumers with shopping incentives like free shipping until September 24, special discounted items for 49.9 RMB ($8.12 US dollars) and 25% off a single item for new newsletter subscribers. “It’s a milestone for H&M’s cross-channel strategy,” says Magnus Olsson, H&M country manager for Greater China and Southeast Asia. “Now Chinese consumers not only can shop from our more than 200 stores, but also can access our online store, using their computers, smartphones or tablets from anywhere at any time,” Internet Retailer reports.
H&M’s growth in China
China is H&M’s largest market outside of Europe and the US. It opened over 50 new stores last year, growing its store base to 35% as reported by the Internet Retailer. “The store numbers of H&M are growing at around 15% annually,” the company said. Some of H&M’s competitors have already entered the e-commerce market in China, including Gap, Uniqlo and Zara. H&M entered China in 2007 and became the retailer’s largest market outside of Europe and the US. H&M has 241 stores in China and its sales in 2013 amounted to $1.13 billion, according to the company. In total, H&M operates over 3,300 stores in 54 different countries. As the Wall Street Journal reported back in June, H&M is eyeing new online markets in the next few years, as it reported strong profit growth for the second quarter of 2014. These markets include China, Spain and Italy, bringing the total of its e-commerce stores to 13.
“E-commerce is growing in most markets, and I expect that to continue for many years, so the potential is huge,” Chief Executive Karl-Johan Persson said. He added that H&M’s e-commerce expansion will have a “good pace for 2016 as well.”