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07 Feb 2019, EMIS Insights Industry Report Extract

China consumer goods & retail sector 2018 Q4

China is the world’s largest retail market and a global leader in e-commerce. As the country makes its transition from a manufacturing-based economy to a service-oriented one, the government’s priority has become that of ensuring stable economic growth by boosting domestic consumption.

For this reason, the retail sector in China is expected to perform well in years to come, encouraged also by the rising spending power of Chinese consumers. In 2017, total retail sales rose by 10.2% y/y to RMB 36,626bn (USD 5,792.4bn) with annual growth in rural areas higher than that in the urban areas. Consumption expenditure per capita reached RMB 17,700 – a 6.6% y/y increase – with the figure at RMB 24,445 in urban and RMB 10,955 in rural areas. Online retail sales of goods, which hit RMB 5,480.6bn in 2017, accounted for 15.0% of the sector’s total sales, up from 12.6% in 2016.

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Original source: EMIS Insight Report China consumer goods & retail sector 2018 Q4