Chinese retail industry continues to grow even in September ’20. The total retail sales of consumer goods in China valued RMB 3,529.5 billion, which is 3.30 per cent on Y-o-Y basis.
The figures were recently released by National Bureau of Statistics, China and analysed by Apparel Resources.
Of total retail sales, RMB 112.50 billion revenues were contributed by apparel and accessory sales. Markedly, the sales of apparels and accessories were up 8.30 per cent in September ’20 as against September ’19.
However, as pandemic hit the country hard in the first quarter of 2020, the retail sales got severely impacted in this period as well as in subsequent months till May.
This leads to an overall drop of 12.40 per cent in apparel retail sales in the country during January-September ’20 period as against the same period of 2019.
It’s worth mentioning here that August ’20 was the first month of retail sales growth in China since the year started. Overall retail sales during the month increased by 0.5 per cent from the same month in 2019 and the figures are even better in in September.
In August ’20, most retail categories grew significantly in comparison to the performance recorded in July ’20. As far as garments are concerned, the retail sales were up by 4.20 per cent in August ’20 over July ’20 as compared to 2.50 per cent fall in July ’20 over preceding month.