Bags / Shoes & Accessories

Under the situation of sustained economic recovery and development in China, the retail data of consumer goods in August showed a significant recovery. According to customs data, the cumulative growth rate of total retail sales of consumer goods in the first eight months of this year has changed from negative to positive. In August, the total retail sales of consumer goods reached 3625.8 billion yuan, up 5.4% year on year, 2.7 percentage points faster than that of the previous month.

According to customs data, in terms of clothing retail, the retail sales of clothing, shoes and hats, knitwear and textiles reached 96.3 billion yuan in August, up 5.1% year on year. At the same time, the data monitored by China National Business Information Center also showed that the clothing retail sales in August increased by 2.1% year on year, 3.6 percentage points higher than that in July.

According to the domestic consumption market data since this year, the market consumption in the first half of the year was greatly affected by the epidemic. However, with the continuous promotion of the national consumption promotion policy and increased efforts to reduce taxes and fees, the market consumption demand has gradually recovered.

According to the customs data, the domestic market sales accelerated to recover in June, and the sales growth rate turned from negative to positive. The total retail sales of consumer goods increased by 3.1% on a year-on-year basis in the current month, and the decline from May to April narrowed.

According to customs data, the retail sales of goods above designated size increased by 8.8% year on year, and decreased by 5.3% year on year in May. The retail growth rate of nearly 90% of goods in June was better than that in May, and the retail growth rate of clothing and consumer goods picked up significantly. For example, the unit retail sales of clothing, shoes, hats, needles and textiles above the quota increased by 1.2% in June, while it decreased by 16.2% in May.

According to customs data, in July, the total retail sales of consumer goods increased by 2.7% year on year, of which the retail sales of consumer goods other than automobiles increased by 1.9%; The retail sales of clothing, shoes, hats, needles and textiles in the month increased 0.8% year on year.

In August, the retail sales of clothing, shoes, hats, needles and textiles increased by 5.1%, basically in line with the 5.4% growth rate of total retail sales of consumer goods, which is better than the 4.3% growth rate of retail sales of consumer goods other than automobiles.

As the "main engine" of economic growth in recent years, stabilizing consumption is very important for stabilizing the economic fundamentals. From the national level, since the third quarter, eight of the nine executive meetings of the State Council have focused on consumption, and deployed relevant work to stabilize growth and promote consumption. On September 19, the National Development and Reform Commission said at the September press conference that it was speeding up the research and promotion of consumer policy measures, actively creating new consumption scenarios, and accelerating the recovery of consumption.

At the same time, various departments around the country have also launched a number of measures to promote consumption, from consumption festivals to consumer vouchers, from shopping subsidies to discounts, from online activities to offline experiences, to further promote a steady and positive recovery of consumption.

According to the market analysis, as the consumer market vitality is stimulated in many places across the country from various angles and in an all-round way, the subsequent consumption potential is expected to continue to release, promote the continuous recovery of the economy and improve market expectations.