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雷达卡
Executive summary 3
A review of 2012 UBS channel efficiency strategy 5
UBS 2013 channel efficiency analysis 7
— An update to our channel efficiency analysis ........................................................7
China 10
— More mixed signals and potentially more confusion in 2013 ...............................10
Hong Kong 12
— As one multi-year trend ends, another begins ....................................................12
Results of our channel efficiency analysis by sub-sector 19
— Sportswear.........................................................................................................19
— Footwear............................................................................................................21
— Department stores..............................................................................................23
— Apparel ..............................................................................................................26
— General merchandise retailers ...........................................................................28
— Jewellery and watch retailers .............................................................................30
— Cosmetics & beauty retailers..............................................................................32
— Auto retailers......................................................................................................33
— Gaming ..............................................................................................................35
Appendix 38
List of companies analysed 39
ubs 中国消费 2013.pdf
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