The leather and footwear markets in Pear River Delta expanded significantly on scale in recent years, but met severe challenges during the latest global financial crises. At the end of 2009 these market showed signs of rebounding with recovery of the world economy, but in 2010 a wave of price hiking spread across China, ranging from raw materials to daily necessities, coupled with soaring in labor costs and energy. As results footwear production and retail sale price surged sharply and consumption dropped.
Under the circumstances of shrinking consumption and higher operation cost many traders in these professional markets found that their most earnings go to pocket of owners of market. If situation continues to worse the traders will close their stores, leaving more space vacant in these markets that would be tragedy for market owners.
Lowering the rent becomes a trend, some market begin cut costs of renting store to keep the stores opening, the price for renting a retail store in certain market has dropped significantly to the level ten years ago. CITATION http://www.chinaleather.org/eng/show.php?itemid=5898
Under the circumstances of shrinking consumption and higher operation cost many traders in these professional markets found that their most earnings go to pocket of owners of market. If situation continues to worse the traders will close their stores, leaving more space vacant in these markets that would be tragedy for market owners.
Lowering the rent becomes a trend, some market begin cut costs of renting store to keep the stores opening, the price for renting a retail store in certain market has dropped significantly to the level ten years ago. CITATION http://www.chinaleather.org/eng/show.php?itemid=5898
