Following the lifting of pandemic control measures at the end of 2022, China\u2019s consumer market has rebounded strongly. National total retail sales of consumer goods grew by 8.2% y-o-y in H1 2023, with the contribution rate of final consumption expenditure to economic growth reaching a record-high 77.2%. Domestic demand is now firmly established as the main engine of economic growth.<\/p>\n\n\n\n
At the same time, the impact of COVID-19 on the consumption, lifestyles, and values \u200b\u200bof domestic residents is accelerating the emergence of structural trends that will have a far-reaching impact on the retail sector in areas ranging from store strategy to sustainable development. These trends will also influence demand for retail properties and asset management.<\/p>\n\n\n\n
This report by CBRE identifies the main trends characterising China\u2019s retail property market in the post-pandemic era and provides recommendations for retail occupiers, investors and developers preparing to navigate what will be a critical period for the cyclical recovery of China\u2019s retail market and normalisation of domestic consumption.<\/p>\n\n\n\n