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China's total retail sales of consumer goods and services up 2.5% in first 8 months, service consumption outpaces goods
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According to data from China's Ministry of Commerce reported by Guangming Daily, total retail sales of consumer goods and services grew 2.5% year-on-year in the first eight months of 2024, indicating a stable and improving consumer market with an optimized consumption structure. Commodity sales rose 1.1%, with basic necessities like grain, oil, and clothing showing strong growth. Upgraded goods such as communication equipment and cosmetics also saw significant increases. Green, smart, and health-related products experienced rapid growth, with smart glasses sales surging 120% and ECG monitors up 75%. Service consumption outpaced goods, with service retail sales growing 4.9%, driven by summer tourism and leisure activities. Rural consumption continued to expand, with rural retail sales rising 2.3%, faster than urban areas, and the share of county and township retail sales reaching 39% of the total, up 0.3 percentage points from the previous year.
Source report
Beijing, September 21 — China's total retail sales of consumer goods and services grew by 2.5% year-on-year in the first eight months of 2024, according to the Ministry of Commerce. The consumer market has maintained stable growth with improved quality, while the consumption structure continues to optimize.
Steady Growth in Goods Consumption
From January to August, retail sales of consumer goods increased by 1.1% year-on-year. Excluding automobiles, retail sales of consumer goods rose by 2.7%.
Basic necessities showed strong growth:
- Grain, oil, and food: up 6.8%
- Clothing: up 5.1%
- Daily necessities: up 3.8%
Upgraded consumer goods also recorded rapid growth:
- Communication equipment: up 16.3%
- Cosmetics: up 6.1%
- Cultural and office supplies: up 6.0%
Green, Smart, and Health-Conscious Products Surge
According to the Ministry of Commerce's big data, sales on key platforms for the following products saw significant increases:
- Smart glasses: up 120%
- ECG monitors: up 75%
- Action cameras: up 26.9%
- Organic food: up 7.4%
Shift Toward Service Consumption
Consumer demand is becoming increasingly diverse and multifaceted. The consumption structure is shifting from a focus on goods to a balance between goods and services, with strong demand for services.
From January to August, service retail sales grew by 4.9%, outpacing goods retail sales by 3.9 percentage points. The summer season further stimulated the service consumption market, with retail sales in travel consulting and rental services, as well as cultural, sports, and leisure services, maintaining rapid growth.
Rural Consumption Potential Released
The vitality of county-level consumer markets continues to be unleashed, and the urban-rural consumption structure is steadily improving.
Key data for the first eight months:
- Rural retail sales of consumer goods: 4.4 trillion yuan, up 2.3%
- Rural growth rate: 1.3 percentage points faster than urban areas
- Combined retail sales of counties and townships (including towns and villages) accounted for 39% of total retail sales of consumer goods, an increase of 0.3 percentage points compared to the same period last year
Source
光明日报Eastern
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China's Jan-Aug 2026 retail sales rise 2.5% as service consumption booms 4.9%