Continuing the growth even in October ’20, the domestic sales of the Chinese retail industry clocked RMB 3,857.60 billion, which is 4.30 per cent more than the revenues China earned in October ’19.
The figures are released by National Bureau of Statistics (NBS), China and further analysed by Apparel Resources.
The revenues from apparel and accessories sales were RMB 127.40 billion, marking an impressive 12.20 per cent Y-o-Y growth and 13.24 per cent M-o-M growth.
The revenues from apparel sales through e-commerce platforms in China also saw growth on yearly basis as more consumers have opted for digital shopping methods 2020 which has become a habit of theirs now.
According to NBS, the online clothing retail sales grew 5.60 per cent in October ’20 as compared to October ’19.
However, as far as January to October ’20 period is concerned, the total sales of apparels still resided towards negative trajectory as it noted 9.70 per cent decline as compared to the corresponding period of 2019.
This article originally appeared in ApparelResources