Mainland retail sales in December last year increased by 0.9% year-on-year, slightly below expectations

The National Bureau of Statistics announced that in December last year, the total retail sales of consumer goods reached 4.51 trillion yuan (the same below), an annual increase of 0.9%, slightly lower than the market expectation of a 1% increase. Among them, the retail sales of consumer goods excluding automobiles amounted to 3.97 trillion yuan, an increase of 1.7%. The total retail sales of consumer goods last year were 50.12 trillion yuan, a growth of 3.7% compared to 2024. Among them, the retail sales of consumer goods excluding automobiles were 45.14 trillion yuan, an increase of 4.4%.

By the location of the operating units, in December last year, the retail sales of consumer goods in urban areas were 3.84 trillion yuan, an annual increase of 0.7%; the retail sales in rural areas were 670.7 billion yuan, an increase of 1.7%. In 2025, the retail sales of consumer goods in urban areas are expected to reach 43.3 trillion yuan, an increase of 3.6% compared to 2024; the retail sales in rural areas are expected to reach 6.82 trillion yuan, an increase of 4.1%.

By consumption type, in December last year, the retail sales of goods were 3.94 trillion yuan, an annual increase of 0.7%; catering revenue was 573.8 billion yuan, an increase of 2.2%. In 2025, the retail sales of goods are expected to reach 44.32 trillion yuan, an increase of 3.8% compared to 2024; catering revenue is expected to reach 5.8 trillion yuan, an increase of 3.2%.

By retail format, in 2025, the retail sales of convenience stores, supermarkets, department stores, and specialty stores among retail units above the designated size are expected to grow by 5.5%, 4.3%, 0.1%, and 2.6% respectively; the retail sales of brand specialty stores are expected to decline by 0.6%.

In 2025, the national online retail sales are expected to reach 15.97 trillion yuan, an annual increase of 8.6%. Among them, the online retail sales of physical goods are expected to grow by 5.2%, accounting for 26.1% of the total retail sales of consumer goods; within the online retail sales of physical goods, food, clothing, and daily necessities are expected to grow by 14.5%, 1.9%, and 4.1% respectively