China has fallen by 6.60 per cent in its apparel retail sales during 2020 valuing RMB 1.23 billion – thanks to down market sentiments due to COVID-19.
However, the figures released by National Bureau of Statistics (NBS), China reinstated the monthly recovery as the country’s apparel sales grew 3.80 per cent in December ’20 on Y-o-Y basis to RMB 152.70 billion.
December figures were also up by 2 per cent on M-o-M basis; the apparel sales in China had clocked RMB 149.70 billion in November ’20.
It’s worth noting here that the total retail sales of the consumer goods in China upped by 4.60 per cent in December ’20, while these figures tumbled by 3.90 per cent on Jan.-Dec, ’20 period.
As far as apparel sales through e-commerce platforms in China are concerned, the figures remained positive with 5.80 per cent Y-o-Y growth in the segment.