China

2022 witnessed a mid-single-digit decline in retail volume sales of consumer appliances due to the resurgence of COVID-19, and it is expected that the retail volume decline will continue, although at a slower rate, in 2023. 2023 has seen consumer…

Personal luxury retail value sales grew by 15% in 2023 to amount to CNY413.1 billion, thanks to growth recorded by leading brand providers such as LVMH Fashion (Shanghai) Trading Co Ltd, Richemont SA, Cie Financière, and LVMH Moët Hennessy Louis…

In 2023, the LCD TV market in China is poised to experience a decline in both sales value and volume. The demand for LCD TVs has exhibited a softening trend, with consumers expressing diminished intentions to make new purchases of LCD TVs. This shift…

Video games recorded a high single-digit current value growth rate in 2021, driven by the dynamic performance of mobile games, which accounts for the majority of retail sales in video games in China, and registered a double-digit current value growth…

The pandemic reduced the amount of time people spent outside the home in 2022, and also significantly reduced the occasions on which deodorants were used. As a result, similar to 2020, deodorants suffered a single-digit current value decline. In…

Hypermarkets in China experienced a temporary spike in sales during the early days of the COVID-19 pandemic, as consumers engaged in panic-buying and stockpiling. However, since then, the channel has seen a return to decline in current value sales,…

Off-trade volume and current value sales of carbonates are set to rise in 2022, with the projected double-digit growth rates likely to be beyond expectations. The Omicron variant of COVID-19 emerged at the start of 2022, with China immediately…

In 2022, on-trade volume sales of bottled water are set to see only a minor increase. As COVID-19 restrictions have been implemented in 2022, people have been unable to dine out frequently, with restrictions in place from March to November 2022.…

After two years of decline by both measures, polishes is set to register static retail volume sales in 2022, along with minimal current value growth. The COVID-19 lockdown restrictions from March to November 2022 prevented any real recovery. However,…

In 2022, laundry care saw sustained mild increases in retail sales in both current value and volume terms. Liquid detergents continued to grow at a steady pace despite the negative environment, thanks to strong habit persistence, as well as…

Air care delivered solid growth in 2021, due to increasing awareness of hygienic and healthy indoor air quality. However, after consistent growth for many years, and despite the COVID-19 resurgence in 2022, the current value growth rate was minimal…

Consumer credit is set to see a moderate rebound in 2023, following subdued demand in 2022, affected by the pandemic. The pick-up in consumer credit growth has largely been due to rises in home and card lending, reflecting some improvement in…

Since the end of the zero-COVID policy, the consumer environment has been gradually returning to normal, and menswear is anticipated to experience a substantial single-digit rebound in China in 2023, although is not quite expected to revert to its…

Despite the lifting of COVID-19 restrictions at the beginning of the year, retail sales of milk formula continued their downward trajectory in current value terms in 2023, amid a further reduction in the national birth rate. While the country…

After dairy returned to recording positive growth in 2021, when COVID-19 seemed to be under control in the country, China saw a return of lockdowns due to the re-emergence of the virus in the shape of the Omicron variant in 2022. This dampened…

Effective from 8 Jan 2023, the Chinese government lifted inbound travel restrictions, such as testing and contact tracing passes, effectively ending the country’s “zero-Covid” policy practiced for the last three years. Subsequently, international…

Economic freedom is negatively impacted by authoritarianism in China, with the state becoming increasingly repressive. The zero-COVID-19 policy has adversely affected the economy, but removal of restrictions could result in strong short-term…

Total volume sales of alcoholic drinks in China turned to decline in 2022, as although the off-trade experienced low single-digit volume growth, the on-trade experienced a double-digit volume decline due to the far-reaching consequences of the…

Savoury snacks is expected to see a strong improvement in its performance in retail current value terms in 2023, after sluggish growth in 2022. The main driver behind this turnaround is set to be the recovery of nuts, seeds and trail mixes, which…

In 2022, cat litter accounted for around a 15% share of overall retail sales of pet products, and maintained strong double-digit growth in retail current value terms. It showed resilience during the spread of the pandemic, as this product is…