Retail Sales of Household Appliances and Audiovisual Equipment in China Rise 14.3% in August

In August, sales in the Chinese market grew steadily, with service retail growing relatively fast.

On September 15, data released by the National Bureau of Statistics showed that in August, the total retail sales of consumer goods reached 3.9668 trillion yuan, an increase of 3.4% year-on-year and 0.17% month-on-month. Among them, the retail sales of consumer goods excluding automobiles amounted to 3.5575 trillion yuan, up 3.7%.

From January to August, the total retail sales of consumer goods reached 32,390.6 billion yuan, an increase of 4.6%. Among them, retail sales of consumer goods excluding automobiles amounted to 29,264.3 billion yuan, an increase of 5.1%.

  Retail sales of goods increased by 3.6% year-on-year, while catering revenue grew by 2.1%.

By location of operating units, in August, retail sales of consumer goods in urban areas reached 3,438.7 billion yuan, an increase of 3.2% year-on-year; in rural areas, retail sales of consumer goods amounted to 528.1 billion yuan, an increase of 4.6%. From January to August, retail sales of consumer goods in urban areas totaled 28,105.6 billion yuan, an increase of 4.6%; in rural areas, the figure was 4,285 billion yuan, an increase of 4.7%.

In terms of consumption type, in August, the retail sales of goods amounted to 3,517.2 billion yuan, a year-on-year increase of 3.6%; the catering revenue was 449.6 billion yuan, an increase of 2.1%. From January to August, the retail sales of goods reached 28,742.6 billion yuan, growing by 4.8%; catering revenue was 3,648 billion yuan, increasing by 3.6%.

In terms of retail formats, from January to August, the retail sales of convenience stores, supermarkets, department stores, specialty stores, and brand specialty stores among retail units above the designated size increased by 6.6%, 4.9%, 1.2%, 5.2%, and 1.7% year-on-year, respectively.

From January to August, the total online retail sales nationwide reached 9.9828 trillion yuan, an increase of 9.6% year-on-year. Among them, online retail sales of physical goods amounted to 8.0964 trillion yuan, up 6.4%, accounting for 25.0% of the total retail sales of consumer goods. Within the online retail sales of physical goods, sales of food, clothing, and daily necessities grew by 15.0%, 2.4%, and 5.7% respectively.

  Household appliances and audio-visual equipment category grew by 14.3%, compared to the previous value of 28.7%.

Sales of basic daily necessities and some upgraded products showed a good growth trend. Retail sales of daily necessities, grain and oil food products, and sports and entertainment products in units above the designated size increased by 7.7%, 5.8%, and 16.9% respectively, compared to previous values of 8.2%, 8.6%, and 13.7%.

The effects of the consumer goods trade-in policy continue to manifest, with retail sales of furniture, household appliances and audiovisual equipment, cultural and office supplies, and communication equipment by enterprises above designated size increasing by 18.6%, 14.3%, 14.2%, and 7.3% respectively, compared to previous increases of 20.6%, 28.7%, 13.8%, and 14.9%.

Retail sales of gold, silver, and jewelry increased by 16.8% year-on-year, compared to the previous 8.2%. Retail sales of automobiles increased by 0.8% year-on-year, compared to the previous -1.5%. Retail sales of petroleum and related products declined by 8% year-on-year, compared to the previous -8.3%.