The Consumer Goods Market in Sanmenxia is Steadily Recovering
Statistics from the Sanmenxia Municipal Bureau of Statistics show that the consumer goods market in Sanmenxia city in 2020 will show a low opening, strong volatility, and steady recovery. The monthly growth rate dropped from 26.9% at the beginning of 2020 to an increase of 6.2%; the cumulative growth rate steadily recovered from a decline of 26.9% to a decline of 3.7%, and consumption potential was gradually released. In 2020, Sanmenxia's total retail sales of consumer goods reached 48.33 billion yuan, which was 0.4 percentage points higher than the provincial average and ranking 7th in Henan province.
The consumer goods market in Sanmenxia has steadily recovered from "cold" to "warm". In 2020, the total retail sales of consumer goods in the first quarter decreased by 22.3% year-on-year, the second quarter increased by 0.2% year-on-year, the third quarter increased by 2.5% year-on-year, and the fourth quarter increased by 5.6% year-on-year. The difference between the highest and lowest growth rates in the four quarters was 27.9%. The recovery began in the second quarter with a relatively rapid pace. Sanmenxia consumer market continued to grow steadily.
The urban market plays a strong leading role. In 2020, the total retail sales of consumer goods in urban areas reached 40.2 billion yuan, 0.2 % higher than the city’s total retail sales of consumer goods; while rural total volume of consumer goods retail sales was 8.13 billion yuan, 1.1% lower than the city’s total retail sales. The urban market of Sanmenxia has advantages in many aspects such as consumption space and environment, and the consumption of urban residents is still the main market force.
Enterprises (units) above designated size in Sanmenxia have an obvious pulling effect. In 2020, the retail sales of enterprises (units) above designated size in Sanmenxia reached 11.37 billion yuan, an increase of 3.4% than that in previous year. The growth rate is 7.1% higher than that of the city's total retail sales of consumer goods, which played an important role in driving the consumer market.
Consumption upgraded commodities recovered quickly. In 2020, the retail sales of gold and silver jewelry, sports and entertainment products, cultural office supplies, and smart phones above the designated size increased by 6.7%, 9.9%, 8.1%, and 26.1% respectively over the same period of the previous year. The growth rate of retail sales above designated size was 3.3%, 6.5%, 4.7%, and 22.7%.
The auto covering is obvious. Auto retail covering in Sanmenxia is obvious. In the first half of the year, consumption of auto products was suppressed due to the impact of the epidemic. However, with the gradual recovery of economic activities, demand for car washing and auto supplies continued to increase. From August to December, the year-on-year growth of retail sales of automobiles above designated size was at 3.8%, 19.9%, 19.6%, 17.6%, and 14.9% respectively, there was an obvious covering trend.