Retailing, Franchising, and Consumerism Business Intelligence in China

Chinese Retail Value Reaches RMB278 Billion During Golden Week

During the past week's holiday, China achieved a total retail value of RMB278 billion from social consumables, an increase of 16% compared with the same period last year.

From May 1 to May 7, a thousand key retailers achieved a sale volume of up to RMB50 billion, increasing by 18% over the same period of the previous year and their consumer flow also increased by about 20%.

According to the analysis of the Ministry of Commerce, this year's Golden Week market had five characteristics. Namely, continuous prosperity for large businesses, an optimized consumption structure, persistent growth of food and wedding consumption, still popular "rural family trips" and a sufficient supply of daily necessities at an overall stable price.

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