The Number Of Retail Sales In China'S Key Retail Businesses Dropped By 1.3%

According to the statistics of the China National Business Information Center, in 2019, during the golden week of Spring Festival (from February 4th to 10th), the number of retail sales of 100 major large-scale retail enterprises (mainly department stores) decreased by 1.3% compared with the same period last year, and the decrease was basically the same as last year.

Of the 100 large retail enterprises surveyed, 39 of them had a positive year-on-year growth in retail sales, while another 61 had negative growth.

2014-2019 years of Spring Festival Golden Week, the number of retail sales of key large enterprises in China increased year by year (%)

In terms of major commodity sales, retail sales of various commodities increased.

Among them, the retail sales of cosmetics increased rapidly, the growth rate was 8.7%. Gold, silver jewelry, daily necessities and food products also achieved a positive growth of 4.3%, 3% and 1.8% respectively.

The growth rate of clothing retail sales dropped more than that of the same period last year. The retail sales of household appliances still decreased compared with the same period last year, but the decline was narrowed compared with the previous year.

Judging from the structure of product sales in recent years, the consumption of products such as food, cosmetics and other gifts during Spring Festival holiday is exuberant. The concentration of clothing purchases is reduced, while household appliances are less likely to be purchased during the Spring Festival.