China'S Retail And Consumer Goods Growth In 2016 Will Grow By 9.2% In The Future.

In the first half of the past year, China's retail and consumer goods are expected to grow by 9.2%. Beyond that, it is expected that there will be varying degrees of growth in the next few years.

According to PWC's latest release of "mainland China" and

China's retail and consumer goods industry is expected to grow by 9.2% in 2016, and will enter a single digit growth stage in the next five years.

Data released by the National Bureau of statistics of China today (July 15th) show that in the first half of 2016, the total retail sales of consumer goods in China totaled 15 trillion and 610 billion yuan, up 10.3% from the same period last year, and the growth rate was 0.1 percentage points lower than that of the same period last year.

This is a sign that the growth rate of China's retail sales has slowed down for sixth consecutive years since 2011.

Yong Dao's "subversive changes in the retail and consumer goods industry in mainland China and Hongkong" reports that in the next 2016-2020 years, the annual growth rate of China's retail and consumer goods industry will reach 7.5%, and retail sales will be close to 44 trillion yuan by 2020.

In 2016, the retail and consumer goods industry in China is expected to grow by 9.2%, and the growth rate in 2017 will be 8.6%. In the next three years, the growth rate will remain at around 7%.

Wang Xiao, managing partner of PWC's China retail and consumer goods industry, said: "the collaborative economy of China's retail and consumer goods industry is at a stage of pformation.

Now that the cyclical factors are improving, coupled with the increasing purchasing power of the millennial shoppers and the demand for new products that meet the needs of life experience and healthy lifestyle, these are conducive to the continuation of the growth momentum of the market.

The growth rate of the domestic economy will be maintained at around 7% in the next few years as the domestic economy matures and the retail industry expands.

While the total retail sales of consumer goods tend to be stable, the growth of online sales is obviously faster.

According to the data released by the National Bureau of statistics, in 2016 1-6, the online retail sales of physical goods in China increased by 1 trillion and 810 billion yuan, up 26.6% from the same period last year, which was 16.3 percentage points higher than the total retail sales of social consumer goods, accounting for 11.6% of the total retail sales of consumer goods.

At the same time, Chinese consumers are also the first to use mobile technology.

According to PWC's total retail survey, 88% of respondents said they had shoped through mobile phones in 2015, accounting for 54% of the world's total.

At the same time, nearly 1/3 of respondents in China say they are willing to choose mobile phone payment when they buy online, a ratio of 12% worldwide.

Looking forward to the future, Wang laughed.

And consumer company is developing a "full retail mode architecture" that focuses on enabling consumers to interact with retailers in research, purchase and delivery stages.

At the same time, technology is changing the way consumers study and buy products.

With the decline of the old business mode and the rise of the new mode, technological innovation will lead the industry to change.

The disruptive influence of virtual reality (VirtualReality) technology on retail industry can be seen.