Consumer confidence in China in the first quarter climbed 3 points from a year ago but remained at the same level as in the prior three-month period, a latest study suggests.
The Chinese Consumer Confidence Index stood at 111 points in the first quarter, higher than the global average of 96, boosted by healthy growth of disposable income for both rural and urban residents, market research firm Nielsen said on Tuesday.
China consumer confidence stabilised this month but remains lukewarm due an increased risk of deflation, a private report showed.
The ANZ-Roy Morgan China Consumer Confidence Index dipped to 152.5 this month from 152.6 in April, the Australia and New Zealand Banking Group and Melbourne-based Roy Morgan Research said in a joint survey on Wednesday.
"Consumer confidence has shown signs of stabilisation, which could foretell a possible pick up in China's retail sales," Liu Ligang, ANZ's chief economist for China, said in the report.
According to a report by Economist Intelligence Unit, by 2030, the number of Chinese households with an income over USD150,000 is expected to rise to 10.3 million. Furthermore, more than one third of households in China will make over USD50,000 in income by 2030, reports China Daily. Currently, only 1 percent of households exceed USD50,000 in income.
While China's luxury market has slowed, it remains promising because China will have a middle and higher income market that will be larger than the entire population of the US.
According to a report by Economist Intelligence Unit, by 2030, the number of Chinese households with an income over USD150,000 is expected to rise to 10.3 million. Furthermore, more than one third of households in China will make over USD50,000 in income by 2030, reports China Daily. Currently, only one percent of households exceed USD50,000 in income.
Cushman & Wakefield, the world's largest privately held real estate services company, has recently highlighted 10 ongoing trends that will shape China's retail property market this year.
Shanghai's retail sales expanded 10.7 percent from a year earlier during the three-day Labour Day holiday, faster than the 5.5-percent rise during the Spring Festival, thanks to good weather and retailers' aggressive marketing, the Shanghai Commission of Commerce said on Sunday.
Consumers spent CNY3.29 billion (USD534.9 million) during the holiday, with many stores cooperating with online shoppers to promote products.
China remains the world's largest retail construction site with over 50 percent of all developments, and has eight of the top-10 cities building the biggest shopping centres, a research released on Wednesday by global property advisor CBRE showed.
If you're an ecommerce company in China, you should be on a shopping spree right now. Studies show that more than anywhere else in the world, Chinese customers want a "total retail" experience.
Shopping center space development is focused in China, according to the latest Global Viewpoint from CBRE Research.
More than half of the shopping center space under construction in the 180 countries surveyed by CBRE is taking place within China’s borders. Shanghai takes first position with 3.3 million square metros of space under construction—more than the combined total of all 86 European cities, excluding those in Russia and Turkey.
Shanghai's Consumer Price Index rose 2.5 percent from a year earlier in March, down from the 2.7 percent gain in February, the Shanghai Statistics Bureau said on Monday. The pace was largely in line with the national average of 2.4 percent last month, indicating moderate inflationary pressure in the city.