In a remarkable close to 2023, China’s total retail sales of consumer goods soared to 4,355.0 billion yuan in December, marking a 7.4% year-on-year increase.
Excluding automobiles, the retail sales ascended to 3,813.1 billion yuan, demonstrating a 7.9% rise. This surge is part of a broader trend observed throughout the year, with total sales reaching 47,149.5 billion yuan, up 7.2% from the previous year.
Non-automobile sales contributed significantly, reaching 42,288.1 billion yuan, a 7.3% increase, showcasing the robust consumer confidence and spending that defines the retail landscape in China.
Urban and rural areas alike witnessed growth, with urban consumer goods sales hitting 3,707.1 billion yuan in December, a 7.2% increase, and rural sales climbing to 647.9 billion yuan, up by 8.9%.
Annually, urban sales reached 40,749.0 billion yuan in 2023, and rural sales saw a notable 8.0% increase to 6,400.5 billion yuan, highlighting the widespread economic vitality across various demographics.
The consumption pattern analysis reveals a diversified growth trajectory, with goods retail sales reaching 3,814.5 billion yuan in December, a 4.8% year-on-year increase.
The catering industry, in particular, experienced a remarkable boom, with income soaring to 540.5 billion yuan, up by an astonishing 30.0%. Over the year, goods retail sales saw a 5.8% increase, totaling 41,860.5 billion yuan, while the catering industry’s income surged by 20.4%, reaching 5,289.0 billion yuan, underscoring the dynamic recovery and expansion of China’s service sectors.
The retail format analysis for 2023 indicates a nuanced landscape.
Department stores, convenience stores, specialty stores, and brand stores in retail enterprises above the designated size witnessed growth rates of 8.8%, 7.5%, 4.9%, and 4.5% respectively.
However, supermarkets experienced a slight contraction, with sales decreasing by 0.4%, signalling shifting consumer preferences and the evolving retail environment.
Online retail sales emerged as a formidable force, totaling 15,426.4 billion yuan in 2023, an 11.0% increase from the previous year.
Physical goods online sales accounted for 27.6% of the total retail sales, reaching 13,017.4 billion yuan, up by 8.4%. Within this segment, food, clothing, and consumer goods experienced growth rates of 11.2%, 10.8%, and 7.1% respectively, illustrating the increasing consumer reliance on digital platforms for a wide range of purchases.
Private domain operation trends of retail chain enterprises in China