Retail Sales of Cosmetics in China Falls 3.1% YOY in the First 11 Months
- Chaileedo Press
- Dec 15, 2022
- 2 min read
According to data from the National Bureau of Statistics, total retail sales of cosmetics rose in November month on month. But overall still slipped by single digits compared to last year. In terms of vertical comparison, the year-on-year growth rate of cosmetics in November remained the lowest in five years.
On December 15, the National Bureau of Statistics in China announced the retail sales data of consumer goods in November 2022. In November, the total retail sales of consumer goods was 3.8615 trillion yuan, down 5.9% year-on-year. From January to November, the total retail sales of consumer goods 39.919 trillion yuan, down 0.1% year-on-year.
Promoted by the Chinese Double 11 Shopping and other influences, the national online retail sales are on the rise. From January to November, the national online retail sales of 12.4585 trillion yuan, up 4.2% year-on-year. Among them, the online retail sales of physical goods amounted to 10.81 trillion yuan, an increase of 6.4%, accounting for 27.1% of the total retail sales of social consumer goods.
In terms of cosmetics-related data, total retail sales rose from a year earlier, but overall it still slipped single digits compared to last year. Specifically, in November, total retail sales of cosmetics were 56.2 billion yuan, down 4.6% year-on-year; from January to November, total retail sales of cosmetics were 365.2 billion yuan, down 3.1% year-on-year.
In a vertical comparison, the year-on-year growth rate of cosmetics in November remained the lowest in five years. 2020 was the peak of growth in the past five years, with a growth rate of 32.3%, and the growth rate has continued to fall since then. The total retail sales growth rate of cosmetics has now been negative for four consecutive months.
In terms of customs data, beauty cosmetics and toiletries imported 34,427.9 tons in November, down 14.26% compared with the same period last year. The import amount was 12.57 billion yuan, down 11.54% year-on-year. The total import of 388,671.5 tons in November, down 11.2% compared with the same period last year; the import value of 138.64 billion yuan, down 5.8% year-on-year.
In November, pressure of market sales is mainly affected by the short-term impact of the epidemic, the improved quality and efficiency trend in consumer market has not changed. With further optimization of the implementation of the epidemic prevention and control measures on the ground, expanding domestic demand and promoting consumption series of policies gradually take effect. The development of consumer market resilience continues to appear. The residents of consumer demand will continue to release. Market sales are expected to steadily recover.
The Bureau of Statistics said that in November, in the face of a more complex and severe international environment and Chinese domestic epidemic multiple challenges, the national economy maintains the recovery trend. The scale of investment continues to expand. The overall stability of market prices, the continued growth of new dynamics, people's livelihood protection is strong and effective. The general situation of economic and social enjoy stability.
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