Retail

China's retail sales up 4.1% in Jan-Apr, driven by online surge

18 May '24

1 min read

China's retail sales up 4.1% in Jan-Apr, driven by online surge

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Insights

China's retail sales of consumer goods increased by 4.1 per cent YoY in the first four months of 2024, as per the NBS.
Urban retail sales rose by 4 per cent, while rural sales jumped by 4.8 per cent.
Online retail sales surged by 11.5 per cent, with physical goods sales growing by 11.1 per cent and making up 23.9 per cent of total retail sales.

In the first four months of 2024, China's retail sales of consumer goods, a key indicator of the country's consumption strength, rose by 4.1 per cent year on year, according to official data released by the National Bureau of Statistics (NBS) on Friday.

Urban areas saw a 4 per cent increase in retail sales, while rural areas experienced a more substantial rise of 4.8 per cent. Online retail sales saw an impressive surge, climbing 11.5 per cent year on year.

Online sales of physical goods contributed significantly, growing by 11.1 per cent and accounting for 23.9 per cent of the total retail sales of consumer goods, said Chinese media reports quoting NBS.

In April alone, retail sales of consumer goods expanded by 2.3 per cent compared to the same period last year, further showcasing the ongoing recovery and strength of consumer spending.

Fibre2Fashion News Desk (KD)

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