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China retail sales up 6.7% in Jan-Feb 2022; online retail grew 10.2%

China retail sales up 6.7% in Jan-Feb 2022; online retail grew 10.2%

From January to February, the total retail sales of social consumer goods in China reached 7,442.6 billion yuan, a year-on-year increase of 6.7%. Among them, the retail sales of consumer goods other than automobiles reached 6,730.5 billion yuan, an increase of 7.0 percent.

Excluding price factors, the total retail sales of social consumer goods from January to February actually increased by 4.9% year on year.

The retail sales of China’s urban consumer goods from January to February reached 6,459.3 billion yuan, a year-on-year increase of 6.7%; the retail sales of rural consumer goods reached 983.3 billion yuan, an increase of 7.1%.

From January to February, the retail sales of supermarkets, convenience stores, department stores, professional stores, and specialty stores in retail units above the designated size increased by 3.0, 12.8, 2.1, 10.3 and 5.3 percent respectively year-on-year.

From January to February, the national online retail sales reached 1,955.8 billion yuan, a year-on-year increase of 10.2%. Among them, the online retail sales of physical goods were 1,637.1 billion yuan, an increase of 12.3%, accounting for 22.0% of the total retail sales of social consumer goods.

Among the online retail sales of physical goods, food, clothing and consumer goods increased by 12.7, 3.9, and 15.1 percent respectively.

China retail sales up 12.5% in 2021; online retail grew 14.1%

In 2021, the total retail sales of consumer goods in China reached 44,082.3 billion yuan, up by 12.5 percent over the previous year with an average two-year growth of 3.9 percent.

The retail sales in urban areas reached 38,155.8 billion yuan, up by 12.5 percent; and the retail sales in rural areas stood at 5,926.5 billion yuan, up by 12.1 percent.

Grouped by consumption patterns, the retail sales of goods were 39,392.8 billion yuan, up by 11.8 percent; and the income of catering was 4,689.5 billion yuan, up by 18.6 percent.

The basic living consumption sustained good momentum of growth, with the retail sales of beverages and grain, oil and food by enterprises above the designated size growing by 20.4 percent and 10.8 percent over the previous year.

The demand for upgraded consumer goods continued to unleash, with the retail sales of “gold, silver, and jewelry” and that of cultural and office supplies by enterprises above the designated size growing by 29.8 percent and 18.8 percent respectively.

In December, the total retail sales of consumer goods grew by 1.7 percent year on year, or down by 0.18 percent month on month.

In 2021, China’s online retail sales reached 13,088.4 billion yuan, growing by 14.1 percent over the previous year. Specifically, the online retail sales of physical goods were 10,804.2 billion yuan, up by 12.0 percent, accounting for 24.5 percent of the total retail sales of consumer goods.

China online retail market overview 2021

China’s total online retail sales grew 10.9% in 2020

In 2020, China’s total retail sales of consumer goods reached 39,198.1 billion yuan, down by 3.9% over the previous year.

Specifically, the total retail sales of commodities by enterprises above the designated size reached 14,332.3 billion yuan, down by 1.9%.

Analyzed by different areas, the retail sales in urban areas reached 33,911.9 billion yuan, down by 4.0%; and the retail sales in rural areas stood at 5,286.2 billion yuan, down by 3.2%.

Grouped by consumption patterns, the income of catering was 3,952.7 billion yuan, down by 16.6%; and the retail sales of goods were 35,245.3 billion yuan, down by 2.3%. The sales growth of upgraded consumer goods accelerated.

In the fourth quarter of 2020, the retail sales of communication equipment, cosmetics, gold, silver and jewelry by enterprises above the designated size grew by 26.0%, 21.2% and 17.3% respectively, or 16.0 percentage points, 7.1 percentage points, and 5.0 percentage points higher than that in the third quarter.

In the fourth quarter, the total retail sales of consumer goods grew by 4.6% year on year, 3.7 percentage points higher than that in the third quarter.

In December, the total retail sales of consumer goods grew by 4.6% year on year, or 1.24% month on month.

In 2020, the online retail sales in China reached 11,760.1 billion yuan, grew by 10.9% year on year.

Specifically, the online retail sales of physical goods were 9,759.0 billion yuan, up by 14.8%, accounting for 24.9% of the total retail sales of consumer goods, or 4.2 percentage points higher than that of last year.

China consumer spending outlook 2024; return to pre-covid19 level in 2021

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