（来源：市场星报） 在基本生活方面，1~11月份，我省限额以上基本生活类商品零售额增长7.7%。其中，粮油食品类商品 零售额增长10.9%，日用品类商品零售额增长10.4%。 据介绍，通讯器材家电增长较快。受前期消费品以旧换新政策持续影响，1~11月份，全省限额以上单 位通讯器材类零售额增长33.7%，家用电器和音像器材类零售额增长9.7%，而在服务消费上，居民消费 从商品为主转向商品和服务消费并重，1~11月份，全省限额以上餐饮收入增长4.2%，高于商品零售3.4 个百分点。 星报讯 记者从省统计局获悉，1~11月份，全省社会消费品零售总额21855.9亿元，同比增长3.8%。其 中，限额以上单位消费品零售额增长1.1%。 ...

12月24日，新黄河记者从山东省统计局获悉，1-11月，山东实现社会消费品零售总额38143.9亿元，同 比增长5.2%。其中，11月当月实现社会消费品零售总额3821.8亿元，增长3.5%。 基本生活类商品增势稳定。1-11月，山东限上粮油食品类、饮料类、烟酒类、日用品类零售额分别增长 10.4%、12.5%、13.0%和17.1%，除粮油食品类增速与1-10月持平外，其他分别较1-10月增速加快2.0、 0.2、0.3个百分点，合计拉动限上零售额增长2.5个百分点。 部分升级类商品增速较快。手机、平板电脑等通信计算机设备新品发售，带动相关升级类消费需求不断 释放。1-11月份，限额以上单位通信器材类、文化办公用品类商品零售额分别增长28.2%、20.7%，延续 两位数增长态势，合计拉动限上零售额增长1.5个百分点。 线上消费带动作用明显。在网购促销与国补政策双重利好作用下，线上消费活力进一步释放，网上零售 规模稳步增加。1—11月，山东限上实物商品网上零售额增长16.7%，快于同期限上零售额增速11.0个百 分点。限上实物商品网上零售额占限上零售额的比重为17.8%，较1-10月提高0.2个百分点。 ...

Group 1 - The core viewpoint of the report by PwC highlights four key factors that will positively impact the future of the Chinese consumer market [1] Group 2 - The first factor is the growth of the middle and high-income population, which is expected to stimulate demand. According to the Economist Intelligence Unit, households in China with a disposable income exceeding $25,000 are projected to surge to 64 million by 2024, nearly doubling to 128 million by 2029. In 2024, 26.8 million households (equivalent to 77 million people) will have an annual income exceeding $35,000, presenting significant opportunities for high-end and luxury brand operators [3] - The second factor is the rapid expansion of both international and domestic leading supermarkets, indicating strong consumer confidence in the Chinese market [3] - The third factor is that Chinese consumers have surpassed global counterparts in their acceptance of health, sustainability, and international products, creating opportunities for new categories and products [3] - The final factor is the expectation that the Chinese yuan will strengthen by 2026. A stronger yuan, combined with market stabilization, is anticipated to boost consumer confidence and stimulate local consumption [4]

清晨的市集人声鼎沸，餐馆里的河州味道飘出街巷，新能源汽车门店前咨询者络绎不绝……今年以来，这样充满烟火气的消费图景在临夏随处可见。州商 务局锚定"扩消费、稳增长、惠民生"的核心目标，一手抓营商环境"软环境"升级，一手促消费举措"硬支撑"落地，精准撬动市场潜能，全州消费品市场呈 现出稳中有进、提质增效的蓬勃态势。数据是最好的见证：前三季度，全州社会消费品零售总额达123.44亿元，同比增长5.5%，分别跑赢全国、全省1个 和2.8个百分点，增速稳居全省第五，用实干为临夏消费市场写下了亮眼答卷。 "家里旧冰箱换了新的，补贴很快到账，太省心了！"临夏市市民马女士的点赞，正是以旧换新政策落地见效的生动注脚。为让政策红利直达群众口袋，州 商务局主动"跑上去"争取支持，成功拿下1.44亿元省级以旧换新专项资金；又细心"筛一遍"优选主体，552家优质企业脱颖而出，涵盖汽车、家电和3C数 码产品等消费热门领域，织就一张覆盖城乡的政策服务网。截至目前，11.9万单以旧换新订单顺利兑现，1.22亿元补贴精准落袋，8.6万名消费者享受到实 实在在的优惠，直接带动消费7.17亿元。政策东风一吹，消费市场即刻"开花"：家电消费同比劲增 ...

Core Insights - China's consumption market showed steady growth in October, with continuous release of consumption potential [1] Group 1: Goods Consumption - In October, retail sales of goods increased by 2.8%, with significant growth in sales of products related to trade-in programs [6] - Retail sales of communication equipment, cultural office supplies, and furniture grew by 23.2%, 13.5%, and 9.6% respectively [6] - Demand for upgraded consumer goods remained strong, with retail sales of gold and silver jewelry, sports and entertainment products, and cosmetics increasing by 37.6%, 10.1%, and 9.6% respectively [6] Group 2: Service Consumption - Service consumption showed good momentum, driven by holiday travel demand, with retail sales in tourism consulting, transportation services, and cultural and recreational services all maintaining over 10% growth [9] - Restaurant revenue grew by 3.8%, accelerating by 2.9 percentage points compared to September [9] - The inbound tourism sector remained robust, with 751,000 foreign visitors during the National Day and Mid-Autumn Festival holidays, marking a 19.8% increase [9] Group 3: Rural and New Consumption - Rural consumption outpaced urban areas, with county-level consumption continuing to expand and lower-tier markets showing strong vitality [14] - New types of consumption grew rapidly, with sales of smart health devices increasing by over 20%, smart wearable devices by approximately 4%, and some first-level energy-efficient appliances by over 10% [14] - Sales of organic food also saw significant growth, exceeding 8% [14]

Core Insights - The consumption market in Qinghai Province has shown a trend of high-quality development with structural optimization since the start of the 14th Five-Year Plan, indicating a steady enhancement of the domestic demand engine [1][3]. Group 1: Consumption Growth - From 2021 to 2024, the annual average growth rate of invoiced sales revenue in the consumption sector in Qinghai is 2%, outpacing the overall provincial growth rate, with its share increasing from 23.8% to 25.1% [1]. - In the first three quarters of 2025, the relevant sales revenue saw a year-on-year growth of 7%, further increasing its share to 26.1%, reflecting strong resilience and growth potential in the consumption market [1]. Group 2: Basic Living Consumption - Basic living consumption related to residents' daily needs has maintained steady growth, with annual growth rates in sectors such as textile and clothing retail, food wholesale, and public transportation services ranging from 3.3% to 8.8% [3]. - In the first three quarters of 2025, these sectors continued to show a year-on-year growth of 3.2% [3]. Group 3: Upgraded Consumption - Upgraded consumption has become a new growth engine, driven by policy incentives and market vitality, with significant growth in sectors like automotive and home appliances, showing annual growth rates between 6.1% and 9.8% [3]. - In the first three quarters of 2025, invoiced sales for new cars and home appliances increased by 24.7% and 53.8% year-on-year, respectively [3]. Group 4: E-commerce and Agricultural Products - "Qinghao" agricultural products have gained national traction through e-commerce, with the internet wholesale and retail sector experiencing an annual growth rate of 25.9%, and a staggering year-on-year increase of 99.9% in the first three quarters of 2025 [3]. Group 5: Emerging Industries - Emerging sectors such as cultural arts, sports leisure, and camping services have rapidly grown, with annual growth rates of 30.8% and 48.8% in cultural arts and camping services, respectively [4].

Core Insights - The consumer market has shown stable growth in the first three quarters of the year, driven by effective consumption-boosting policies and the expansion of new consumption formats, models, and scenarios [1] Group 1: Consumption Growth Metrics - The total retail sales of consumer goods increased by 4.5% year-on-year, accelerating by 1.2 percentage points compared to the same period last year and by 1.0 percentage point compared to the entire previous year [1] - Service retail sales grew by 5.2% year-on-year, with an acceleration of 0.1 percentage points compared to January-August, surpassing the growth rate of goods retail sales by 0.6 percentage points [1] - The contribution rate of final consumption expenditure to growth reached 53.5%, an increase of 9.0 percentage points compared to the previous year, continuing to serve as a key growth driver [1] Group 2: Sector-Specific Performance - The furniture retail sector saw a significant year-on-year increase of 21.3%, while home and audio-visual equipment and cultural office supplies experienced growth rates of 25.3% and 19.9%, respectively, indicating a notable acceleration [1] - Online retail sales increased by 9.8% year-on-year, with growth accelerating by 0.2 percentage points compared to January-August, and showing a continuous upward trend since May [1] - Retail sales in cultural, sports, leisure, communication, and transportation services experienced double-digit growth, reflecting a robust demand in these sectors [1]

Core Insights - The consumer market in China has shown stable growth in the first three quarters of 2025, with total retail sales of consumer goods reaching 365,877 billion yuan, a year-on-year increase of 4.5%, accelerating by 1.2 percentage points compared to the same period last year and 1.0 percentage point compared to the entire previous year [3][5][9] Group 1: Consumer Spending and Economic Contribution - Final consumption expenditure contributed 53.5% to economic growth, driving GDP growth by 2.8 percentage points, an increase of 9.0 percentage points compared to the previous year [2] - In the third quarter, the contribution rate of final consumption expenditure rose to 56.6%, contributing 2.7 percentage points to GDP growth [2] Group 2: Retail Sales Performance - Retail sales of consumer goods in urban areas reached 316,838 billion yuan, growing by 4.4%, while rural retail sales amounted to 49,039 billion yuan, with a growth rate of 4.6% [5] - The online retail sales of physical goods reached 91,528 billion yuan, increasing by 6.5%, accounting for 25.0% of total retail sales [9] Group 3: Product Categories and Trends - Retail sales of goods totaled 324,888 billion yuan, with a year-on-year growth of 4.6%, and retail sales in limited enterprises increased by 5.1% [7][13] - Basic living goods such as food, clothing, and daily necessities saw retail sales growth of 8.0%, 3.1%, and 7.4% respectively [13] Group 4: Service Consumption Growth - Service retail sales grew by 5.2%, outpacing goods retail sales by 0.6%, with significant growth in cultural, sports, leisure, and travel services [14] - The railway passenger volume reached 3.54 billion, a 6% increase, while box office revenue grew by 20.7% [14] Group 5: Price Trends - The overall price level in the consumer sector remained stable, with the core CPI rising by 0.6% year-on-year, an increase of 0.2 percentage points compared to the first half of the year [17]

Core Insights - The consumer market in China has shown stable growth this year, driven by effective consumption-boosting policies and the expansion of new consumption formats, models, and scenarios [1] Group 1: Retail Performance - The total retail sales of consumer goods in the first three quarters increased by 4.5% year-on-year, which is an acceleration of 1.2 percentage points compared to the same period last year and 1.0 percentage point compared to the entire last year [3] - Service consumption has accelerated, with retail sales in the service sector growing by 5.2% year-on-year in the first three quarters, outpacing the growth of goods retail sales by 0.6 percentage points [3] - Specific service categories such as cultural, sports, and leisure services, communication and information services, and transportation services have all achieved double-digit growth [3] Group 2: Specific Product Categories - The "trade-in" policy has significantly boosted retail sales in related categories, with furniture retail sales increasing by 21.3% year-on-year in the first three quarters [5] - Retail sales of household appliances and audio-visual equipment, as well as cultural and office supplies, grew by 25.3% and 19.9% year-on-year, respectively, showing a marked acceleration compared to the previous year [5] Group 3: Online Consumption - Online retail sales increased by 9.8% year-on-year in the first three quarters, with growth accelerating since May, indicating a strengthening role of online consumption in driving total retail sales [5] Group 4: Economic Contribution - Final consumption expenditure contributed 53.5% to economic growth in the first three quarters, an increase of 9.0 percentage points compared to the entire last year, reinforcing its role as the main engine of economic growth [6]

Core Insights - The consumption market is experiencing stable growth, driven by various policies and new consumption models, leading to enhanced market vitality and released consumption potential [1][6] Group 1: Consumption Market Overview - The total retail sales of consumer goods reached 365,877 billion yuan in the first three quarters, with a year-on-year growth of 4.5%, accelerating by 1.2 percentage points compared to the same period last year [2] - Service consumption is growing rapidly, with service retail sales increasing by 5.2% year-on-year, outpacing goods retail sales by 0.6 percentage points [2] - The film box office revenue increased by 20.7% year-on-year, indicating strong demand in the entertainment sector [2] Group 2: Urban and Rural Market Dynamics - Urban retail sales grew by 4.4% year-on-year, while rural retail sales increased by 4.6%, showing a balanced growth between urban and rural markets [3] - The county and township market is expanding, with the share of county and township retail sales in total retail sales reaching 38.8%, an increase of 0.1 percentage points from the previous months [3] Group 3: Product Categories Performance - Overall retail sales of goods increased by 4.6% year-on-year, with significant growth in basic living goods and upgraded products [4] - The retail sales of furniture increased by 21.3%, while home appliances and audio-visual equipment grew by 25.3% and 19.9%, respectively, indicating strong performance in the "trade-in" policy [4] Group 4: New Consumption Trends - Online retail sales grew by 9.8% year-on-year, with physical goods online retail sales increasing by 6.5%, reflecting a sustained upward trend [5] - New retail formats, such as warehouse membership stores and discount stores, are thriving, with double-digit growth in sales [5] Group 5: Future Outlook - The consumption market is expected to continue expanding and improving, with a focus on enhancing consumer willingness and stimulating consumption potential [6] - Future actions will include implementing consumption-boosting initiatives and promoting high-quality development in the consumption market [6]