China’s apparel retail sales are continuing upwards trajectory in 2021.
The recently released data by National Bureau of Statistics (NBS) of the country shows that China has clocked RMB 117.40 billion (US $ 18.13 billion) from its domestic apparel retail sales during June ’21, noting 12.80 per cent Y-o-Y surge.
In H1 ’21, China has noted 33.70 per cent Y-o-Y increase in apparel retail sales to accommodate RMB 673.80 billion (US $ 104.06 billion) revenues.
According to NBS data that was further analysed by Apparel Resources, the total retail sales of consumer goods in June ’21 valued RMB 3,758.60 billion (US $ 580.45 billion) and apparels constituted 3.12 per cent of this total value.
As post-pandemic economic growth is gaining momentum in the country, the surging apparel sales is an indication of consolidation of the businesses that resulted in more consumers spending on fashion commodities.
Online fashion revenue of China has also increased by 24.10 per cent and has maintained an average growth of 9.80 per cent for over two years till June this year.