Business Intelligence on Retailing, Franchising, and Consumerism in China

Consumer Product Retail Sales Up 17% During Chinese New Year

According to statistics from China's Ministry of Commerce, China's retail sales hit CNY340 billion during the "golden week" of Spring Festival 2010, which was an increase of 17.2% over those of the same period in 2009.

The ministry's data shows that traditional Spring Festival goods such as food, tobacco, liquor, and fireworks were in great demand during the seven-day holiday, while goods like communications appliances, jewelry, clothing, and home appliances were also major sellers during the period. The ministry stated that during the Chinese New Year holiday, sales of food by China's major retailers grew 16.5% year on year, while sales of tobacco and liquor were up 13.2%. In addition, sales of communications appliances increased by 19.2% over the same period of 2009 and those of jewelry products increased by 19.1%.

The ministry said that, despite the extra market demand, the supply of daily necessities was stable during the holiday.

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