China’s Retail Sales Grew 13% Year on Year to RMB21.13 tn (US$3.48 tn) in the First 11 Months of 2013

Date: 2015-09-01

“China’s retail sales grew 13% year on year to RMB21.13 tn (US$3.48 tn) in the first 11 months of 2013. Improving economic growth and the country’s determination to shift to a domestic demand-driven expansion model has boosted consumer confidence. For individual months, China’s retail sales grew 13.3% to RMB2.15 tn (US$352.6 bn) in October, and 13.7% to RMB2.1 tn (US$344.4 bn) in November.

In spite of raw milk undersupply, dairy drinks experienced growth of 8.7% in the last quarter of 2013, as leading dairy manufacturers took measures to strengthen their control of raw milk sources. Increasing cost pressures became one of the reasons for the increase in retail prices by dairy beverage makers, including Mengniu, Yi and Bright Dairy. This impaired sales to some extent, although the rigid and increasing consumer needs partially offset the effects.

Soft drinks categories have continued with healthy double-digit growth, primarily owing to the key categories such as iced/rtd tea drinks and packaged water. With such promising results, the soft drinks industry is expected to capture the opportunities from the rebound in China’s economy during the coming quarters.”

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