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Consumer Goods Market Growing Fast

Submit Time:03-04-2018 | Zoom In | Zoom Out

Author: | Source:National Bureau of Statistics

Abstract:

The National Bureau of Statistics released the total retail sales of consumer goods in the first two months of 2018 today. Lu Shan, a senior statistician in the Department of Trade and External Economic Relation Statistics, the National Bureau of Statistics, made an explanation.  

1. The consumer goods market was relatively active, with the growth of total retail sales of consumer goods faster than that of the same period last year 

In January and February, the total retail sales of consumer goods reached RMB 6.1082 trillion yuan, up by 9.7% year-on-year, 0.2 percentage points faster than that of the same period last year. Setting seasonal factors aside, the month-on-month growth was 0.59% and 0.76% respectively in January and February.  

2. Online retailing enjoyed a booming development and continued to grow 

In January and February, the national online retail sales reached RMB 1.2271 trillion yuan, up by 37.3% year-on-year, 5.4 percentage points higher than that of the same period last year. The retail sales of physical goods reached RMB 907.3 billion yuan, up by 35.6%, 25.9 percentage points higher than the growth of total retail sales of consumer goods, an increase of 10.1 percentage points over the same period last year.  

3. The transformation of consumption structure speeded up, and upgrade-related goods retailing grew fast 

Some goods related to consumption upgrade continued to maintain a fast growth in retail sales. In January and February, the retail sales of unit cosmetics and household appliances above designated size grew by 12.5% and 9.2% year on year respectively, up by 1.9 percentage points and 3.6 percentage points respectively over the same period last year. The retail sales of communication devices grew by 10.7% year on year, maintaining the double-digit growth.  

The rise in the growth of vehicle retail sales was the main factor causing the growth of total retail sales of consumer goods to pick up. Affected by such factors as the low base over the same period last year, unit vehicle commodity above designated size saw a significant rebound of retail sales in January and February, up by 9.7% year on year, raising the growth of total retail sales of consumer goods up by about 1.1 percentage points.  

Basic living goods continued to enjoy a steady growth in retail sales. In January and February, articles for daily use per unit above designated size such as shoes and hats and needles grew by 7.7% and 10.1% respectively, 1.6 percentage points and 0.9 percentage points higher than that of the same period last year. Oil and foodstuffs grew by 9.7%, flat year on year.  

Affected by high growth over the same period last year, the growth of cultural commodities and some living goods dropped. In January and February, the retail sales of cultural and office commodities as well as newspapers and magazines above designated size showed a year-on-year fall; the year-on-year growth of furniture, building and decoration materials dropped by 3.3 percentage points and 6.1 percentage points respectively compared to the same period of previous year.  

4. The tourism market kept on growing, and box office hit a new high 

With constant increase of tourism product diversity and increasing improvement of tourism market environment, the market of holiday tourism continued to grow. According to comprehensive estimation by the data center of China National Tourism Administration, China saw 380 million visitor trips totally during the Spring Festival this year, a year-on-year growth of 12.1%, and obtained the tourism revenue of RMB 475 billion yuan, a year-on-year growth of 12.6%.  

For recreational consumption, according to statistics of the Film Administration of the State Administration of Press, Publication, Radio, Film and Television, China saw the box office of more than RMB 5.6 billion yuan and attendance of 143 million during the Spring Festival of 2018, both up by more than 60% year on year.  


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