News: 2024.03.18
Many economic indicators in the mainland from January to February were better than expected, but the growth rate of retail sales data slowed to 5.5%, returning to the level of September last year. Zhou Hongli, senior economist and executive director of DBS Hong Kong, said that retail performance is subject to employment and real estate.
According to Zhou Hongli's analysis, mainland retail sales may experience high single-digit growth in the second half of the year. Although the current growth rate has slowed down, the overall trend is still good. This will have a positive impact on the mainland economy and promote the expansion of the consumer market.
Zhou Hongli pointed out that retail performance is affected by the employment and real estate market. As employment rates improve and the real estate market stabilizes, consumer confidence will gradually increase, driving growth in the retail industry.
Consumer confidence is crucial to the development of the retail industry. As the economic environment improves and income levels rise, consumers will be more willing to spend. Therefore, improving consumer confidence is key to promoting growth in the retail industry.
As market competition intensifies, the retail industry needs to continue to innovate and improve service quality to attract more consumers. Only by continuously improving competitiveness can we stand out in the fierce market environment.