The recent data released by National Bureau of Statistics, China says the apparel retail sales in the country upped 12.30 per cent in May ’21 on Y-o-Y basis.
China’s fashion brands and retailers have clocked RMB 113 billion (US $ 17.44 billion) from domestic retail sales in May this year.
The total retail sales of consumer goods in May ’21 valued RMB 3,594.50 billion (US $ 554.76 billion) and apparel constituted 3.14 per cent of that!
The apparel retail revenues of China in first 5-month period (Jan.-May) value RMB 556.80 billion (US $ 85.93 billion), marking 39.10 per cent yearly surge.
As far as online fashion revenues are concerned, China has maintained an average growth of 9.30 per cent in e-commerce fashion segment for over two years.
The recovery post-COVID is evident in the Chinese markets and Y-o-Y increase in domestic retail sector brings positive future outlook.