Retail sales of consumer goods enjoy a modest recovery
- Details
- Category: Governmental News
- Published: Tuesday, 02 October 2012 15:02
Due to seasonal change, the sample enterprises' adjustment and other factor, the city's total retail sales of consumer goods of companies above designated size enjoyed a modest recovery last month, as indicated in the report released by the trade bureau of Ningbo on Sept. 24.
The data show that last month the city's total retail sales of companies above the designated size reached 10.76 billion yuan, up 15.6% over the same period last year. The accumulated retail sales of above designated size from January to August totaled 77.9 billion, up12.9%, which was 2.5 percentage points higher than that of the provincial average increase, ranking the fourth in Zhejiang. In addition, the accumulated merchandise sales of companies above designated size during the eight months reached 495.18billion yuan, up 6.4% over the past year. The sales in August alone stood at 66.7 billion.
However, the city's traditional retail still faces a grim situation, said the Trade Bureau. In August , the sales of 21 major department stores surveyed increased by 1.89% over the same period last year, 7 major hypermarket up 4.99% over the previous year while the sales of 12 chain supermarket only increased by 2.05%, and 319 franchised stores decreased by 9.52% over the past year.
Three major adversities are affecting today's traditional retail trade, which are the worsened economic environment, the sluggish consumption and the impact of rising e-commerce. First of all, due to the unfavourable economic environment, the growth rate of the per capita disposable income and expenditures of the city's urban residents for the first half year decreased when compared with the same period last year, which affected consumer's confidence. Among them, the proportion of food consumption rebounded from 37.4% in the first half of 2010 to 38.2% in 2011,and further increased to 38.3% this year. Secondly, because of the "internal and external" pressures people are saving more money instead of spending, which restrains consumption somewhat. And the rise of the overseas purchasing and the increasing outbound tourism and other factors lead to a massive outflow of luxury goods consumption and even daily necessities consumption. However, the greater impact is from online purchasing, which has affected department stores greatly.
