China’s total retail sales of consumer goods rose +3.0% YoY in September 2025, slightly slower than August’s pace, reflecting steady but moderate consumption growth across goods and services.

• Retail sales excluding autos increased +3.2% YoY, while auto-related sales rose +1.6% YoY, indicating balanced growth between core consumption and vehicle demand.

• Goods retail sales grew +3.3% YoY, supported by solid gains in furniture (+16.2%), communication equipment (+16.2%), and jewelry (+9.7%), while catering revenue increased just +0.9% YoY, showing weaker momentum in services spending.

• Urban retail sales were up +2.9% YoY, compared with +4.0% YoY growth in rural areas, suggesting stronger consumption recovery in smaller markets.

• Online retail sales of physical goods rose +6.5% YoY in Jan–Sep, accounting for 25.0% of total retail sales; food (+15.1%), clothing (+2.8%), and daily-use goods (+5.7%) all contributed to growth.

• Among goods categories, sports and entertainment products (+11.9%), furniture (+16.2%), and cultural office supplies (+6.2%) saw robust gains, while petroleum products (-7.1%) and beverages (-0.8%) declined.

• Retail sales by format showed mixed trends in Jan–Sep: convenience stores (+6.4%) and specialty stores (+4.8%) expanded faster, while department stores (+0.9%) and brand stores (+1.5%) grew more slowly.

• For the first nine months of 2025, total retail sales reached ¥36.59T (+4.5% YoY), with non-auto retail up +4.9% YoY, showing continued, though uneven, consumption recovery.