Financial News
Written by: Xu Shihao
2021-03-03 16:41
Last update date: 2021-03-03 16:43
The government announced that the value of retail sales in January this year was 32.6 billion yuan, a year-on-year decrease of 13.6%, and adjusted the value of retail sales in December 2020 to a year-on-year decrease of 13.3%.
Taking into account the retail sales data in January this year, it has fallen for 24 consecutive months.
Among them, the value of medicines and cosmetics had the largest decline, reaching 40.1%.
The sales value of footwear, related products and other clothing accessories fell 35.1% year-on-year, the sales value of jewellery, watches, and valuable gifts fell 31.7% year-on-year, and the value of clothing sales fell 20.4%.
A government spokesman said that under the fourth wave of the local epidemic, retail sales continued to record a significant year-on-year decline in January this year.
However, due to the difference in the timing of the Lunar New Year this year and last year (in mid-February this year and the end of January last year), it is believed that this will distort the figures for January.
Therefore, after obtaining the retail data for February, the combined analysis of the two months of data will be able to more effectively evaluate the latest retail sales performance.
Looking ahead, the spokesperson pointed out that in view of the continued threat of the local epidemic and the freezing of the inbound tourism industry, the operating environment of the retail industry is still difficult in the short term.
Therefore, controlling the epidemic is of utmost importance.
If the COVID-19 vaccination plan achieves the expected results, it should help to lay a solid foundation for the recovery of the retail industry and a more comprehensive economic recovery later this year.
Retail market