Shanghai Retail

Asian Cities

2H 2018

 

Overview
China’s economy slowed to 6.7% in Q2/2018 amid signs that the financial de-risking and the China-US trade war were starting to have an impact on businesses. Domestic consumption has become an increasingly important driver of growth, supported by the government’s efforts to rebalance the economy as well as advancements in online sales platforms and improvements in the physical market.

Shanghai’s retail sales increased by 7.7% year-on-year (YoY) to RMB614.3 billion in 1H/2018. Online sales grew by 13.3% YoY to RMB70.2 billion, accounting for 11.4% of the total. According to the Shanghai Statistics Bureau, retail sales in shopping centres increased by 20% over the same period while department store revenue rose by 7.1%.

 
 

Key contacts

Simon Smith

Simon Smith

Senior Director
Research & Consultancy

Two Exchange Square

+852 2842 4573

 

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