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The Consumer Goods Market Runs Smoothly on the Whole in October 2018

Submit Time:14-01-2019 | Zoom In | Zoom Out

Author: | Source:National Bureau of Statistics2018-11-14

Abstract:

      The National Bureau of Statistics released today the data on the total retail sales of consumer goods in October 2018. In this regard, Ye Jingyi, a senior statistician from the Department of Trade and External Economic Relations Statistics of the National Bureau of Statistics, gave her interpretation.

  I. Market sales tends to be stable on the whole

  From a year-on-year growth point of view, the total retail sales of social consumer goods in October fell by 0.6% over last month, mainly due to the factors of the forward shift of the Mid-Autumn Festival and more promotion nodes in the later period. If the effect of the forward shift of the Mid-Autumn Festival is deducted, the growth rate in October is basically the same as that in September. In addition, the total retail sales of social consumer goods increased by 9.2% from January to October from the cumulative growth point of view, which slightly slowed down by 0.1% over that in the first three quarters.

  From a month-on-month growth point of view, the month-on-month growth in October was 0.64% without taking into account seasonal factors, increased by 0.08% over last month. In general, the consumer goods market maintains steady growth.

  II. Emerging business modes continue to maintain rapid growth

  From January to October, the national online retail sales volume reached RMB 7053.9 billion, increased by 25.5%. Specifically, the net online retail sales of physical goods reached RMB 5414.1 billion, increased by 26.7%, which was 17.5% higher than that of the total retail sales of social consumer goods, accounting for 17.5% of the total retail sales of social consumer goods, 3.5% up over the same period last year.

  III. The growth of basic living commodities is stable

  In October, grain, oil, food and commodities per unit above designated size increased by 7.7% and 10.2% compared with the same period last year, respectively. The growth rate was 4.0% and 6.5% higher than the retail sales of consumer goods per unit above designated size, respectively. From January to October, grain, oil, food, clothing and daily necessities per unit above designated size increased by 10.0%, 9.1% and 13.0%, respectively, and maintained rapid growth.

  IV. Consumption upgrade goods and services increase rapidly

  Consumption upgrade goods have increased rapidly. In October, the annual growth rate of communications equipment and cosmetics products per unit above designated size was 3.4% and 2.7% higher than the retail sales of consumer goods per unit above designated size, respectively. From January to October, cosmetics and communications equipment commodities per unit above designated size maintained a double-digit rapid growth. 

  The service consumption demand is more active. In the catering market, the growth rate of catering income per unit above designated size in October was 1.4% higher than that of retail sales; in the tourism market, China received over 700 million domestic tourist trips during the National Day holiday according to the Ministry of Culture and Tourism, increased by 9.4% over the same period last year, and the growth rate of domestic tourism revenue exceeded 9%.


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