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Report on the development of China’s consumer market in 2020 From Research Institute of the Ministry of Commerce

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The following is the Report on the development of China’s consumer market in 2020 From Research Institute of the Ministry of Commerce recommended by recordtrend.com. And this article belongs to the classification: China’s economy, Consumer research, User Research.

According to the data of the National Bureau of statistics, the year-on-year growth rate of China’s total retail sales of consumer goods in the first half of 2020 is always negative, and the contribution rate of final consumption expenditure to economic growth in the second quarter drops to – 73%. In August 2020, the year-on-year growth rate of China’s total retail sales of consumer goods began to turn from negative to positive. At present, the year-on-year positive growth has been continuously three months, and the contribution of final consumption expenditure to economic growth has rebounded to 34.9% in the third quarter.

Affected by the epidemic situation, the total retail sales of consumer goods in China in the first three quarters of 2020 was 27.3 trillion yuan, a year-on-year decrease of 7.2%, accounting for 88.6% of the sales of the retail and catering industries in the United States. Compared with the previous year, the gap between the total retail sales of consumer goods in China and the sales volume of retail and catering industries in the United States has expanded. Nevertheless, China’s epidemic prevention and control and economic recovery work is at the forefront of the world, and is the only major economy in the world that can achieve positive economic growth in 2020, and the potential release of China’s consumer market is still expected.

Under novel coronavirus pneumonia, consumers’ sticky consumption is significantly increased this year, and online channels have become the main channel for residents to consume, according to the report.

According to the data of the National Bureau of statistics, from January to June 2020, the number of online shopping users in China increased by 100 million compared with the previous year, and the number of major online retail platform stores increased by 3.8%. From January to October, China’s online retail sales of physical goods increased by 16% on a year-on-year basis, 21.9 percentage points higher than the growth rate of total retail sales of social consumer goods, and its proportion in the total retail sales of social consumer goods has increased to 24.3%.

According to business big data monitoring, in the first half of 2020, there will be more than 10 million live e-commerce shows, more than 400000 active anchors, more than 50 billion viewers, and more than 20 million goods on the shelves.

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