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10月旧换新商品旺，家具零售增9.6%

福禄装修家居
2025-11-21 14:54

China's Consumer Market Growth in October 2023

According to the Ministry of Commerce's website, in October, driven by the National Day and Mid-Autumn Festival holiday, the consumer market maintained a stable growth momentum with continuous release of consumption potential. According to National Bureau of Statistics data, the total retail sales of consumer goods in the month reached 4.63 trillion yuan, up by 2.9% year-on-year. From January to October, the total retail sales of consumer goods reached 41.2 trillion yuan, with a growth rate of 4.3%, 0.8 percentage points higher than the same period last year.

Consumer Market Growth Chart

Firstly, the consumption of goods maintained stable growth. In October, the retail sales of goods increased by 2.8%, with the sales of products related to "replace old with new" maintaining rapid growth. Among them, the retail sales of communication equipment, cultural office supplies, and furniture of enterprises above a certain scale increased by 23.2%, 13.5%, and 9.6% respectively. The consumption of basic living goods increased rapidly, with the retail sales of grain, oil, food, clothing, and shoes and hats increasing by 9.1% and 6.3% respectively. The demand for upgraded goods was strong, with the retail sales of jewelry, sports and entertainment goods, and cosmetics increasing by 37.6%, 10.1%, and 9.6% respectively.

Secondly, service consumption showed a good trend. From January to October, the retail sales of services increased by 5.3% year-on-year, with the growth rate accelerating by 0.1 percentage points compared to the previous three quarters, and 0.9 percentage points faster than that of goods retail sales. Driven by the demand for travel during the holiday, the retail sales of tourism consultation, transportation, and cultural and sports leisure services all maintained a growth rate of over 10%. In October, the revenue from catering increased by 3.8%, accelerating by 2.9 percentage points compared to September. The inbound tourism continued to be hot, with 75.1 million foreign tourists entering the country during the National Day and Mid-Autumn Festival holiday, an increase of 19.8%.

Thirdly, new consumption grew rapidly. According to the Ministry of Commerce's business big data, in October, the sales of key monitored platforms' intelligent health equipment increased by over 20%, the sales of intelligent wearable equipment increased by about 4%, and the sales of some first-level energy-efficient home appliances increased by over 10%, while the sales of organic food increased by over 8%. According to the China Association of Automobile Dealers, the retail volume of new energy passenger vehicles in October increased by 7.3%, with a penetration rate of 57.2%. From January to October, the retail sales of physical goods online increased by 6.3%.

Fourthly, rural consumption grew faster than urban consumption. The consumption in counties continued to expand, and the vitality of下沉 markets was strong. In October, the retail sales of consumer goods in rural areas increased by 4.1%, 1.4 percentage points faster than in urban areas; from January to October, the retail sales of consumer goods in rural areas increased by 4.6%, 0.4 percentage points faster than in urban areas.