COVID-19 Impact on Retail Spend in China
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The Coronavirus (COVID-19) country report analyses how the pandemic will impact retail spend in China.
The lockdown in China and the following path to normality due to the COVID-19 outbreak is expected to wipe of ¥3.0 trillion from the country’s retail market in 2020, causing a 9.5% fall on 2019.
The Retail market is forecast to recover in the second half of 2020, as consumers regain confidence and start visiting stores more frequently.
Scope
– Food & grocery retailers and drug stores registered strong growth amid the pandemic as customers stockpiled essentials and hygiene products and refrained from purchasing big ticket items.
– The release of lockdown has fueled the appetite of wealthy Chinese consumers to spend again on luxury goods – particularly if they postponed these purchases over Chinese New Year.
Reasons to Buy
– Use our revised market forecasts out to 2024 to understand how the Chinese retail market will perform.
– Use our in-depth analysis to review how key retailers have responded to COVID-19.
– Use our data on key consumer shopping and lifestyle habits to see how the population have responded to the impact of COVID-19.
JD.com
Meituan Dianping
H&M
Lin Qingxuan
Cosmo Lady
Hema
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