Data released by the National Bureau of Statistics of China, shows, sales of garments and accessories grew by 11.50 per cent Y-o-Y from January-November 2023 to RMB 1,259.50 billion ($ 177.93 billion).
Specifically in November 2023, China’s revenues from garments and accessories surged by 22 per cent to RMB 150.30 billion ($ 21.23 billion).
The nation’s cumulative retail sales, during the period, grew by 7.20 per cent to RMB 42,794.50 billion or $6.045.72 billion.
In November 2023 alone, China’s retail sales surged by approximately 10.10 per cent, to RMB 4,250.50 billion or $600.48 billion.
China’s retail growth in 2023 aligns with the shifting sentiment of Chinese consumers to increase their spending on apparel and fashion accessories.
