Review of the retail industry: the epidemic has been gradually controlled and the sector has recovered steadily
Social zero returned to the level of 2019 before the epidemic, and the year-on-year growth rate was relatively stable.
The impact of the epidemic on the retail industry was particularly significant in the first half of 2020. From January to February 2020, the total social zero decreased by 20.5% year-on-year, and the phenomenon of negative year-on-year growth was not improved until August last year. With the continuous promotion of epidemic prevention and control and the increase of vaccine popularity, the retail industry has gradually returned to the level of 2019 before the epidemic. In the first half of this year, the total social zero grew rapidly year-on-year, mainly due to the small base affected by the epidemic in the same period last year. Although the year-on-year growth rate of social zero from April to July 2021 slowed down, it has continued to rise since August to October and reached 4.9% in October, reflecting the strong vitality of the retail industry. Under the assumption of “local + overseas input” to effectively control potential cases, the total social zero may maintain a relatively stable growth rate in the short term.
Jewelry daily chemical growth was stable, and catering and textile clothing continued to recover.
In the second half of 2021, due to the occasional impact of extreme weather and epidemic, residents’ travel and consumption decreased, and the catering and textile clothing industry was greatly affected. As of August, it decreased by 4.2% / 6% year-on-year. Later, driven by holiday consumption, it gradually recovered the growth trend or narrowed the decline since September. Gold and silver jewelry, cosmetics and daily necessities basically maintained a steady growth, with a year-on-year increase of 38.1% / 16.7% / 14.6% from January to October this year. It is expected that at the end of the year, driven by online promotion activities such as “double 11” and “double 12”, the overstocked consumer demand of residents will be released, and the market is expected to continue to recover.
