Hainan Island consumer market statistics and dynamics in 2020
Since the beginning of 2020, in the face of the impact of the epidemic on the Hainan consumer goods market, governments at all levels in the province have introduced support policies to actively respond and coordinate the promotion of consumer development. Total retail sales of consumer goods in Hainan Province have shown positive growth for four consecutive months since May 2020. In the second half of the year, after adjusting the tax exemption policy and opening up domestic tourism, the Hainan consumer goods market showed a rapid recovery trend.
In August, total retail sales of consumer goods in Hainan province totaled 18.218 billion yuan, up 19.4% year-on-year, and the monthly growth rate was record high. New maximum since the outbreak. In August, retail sales of goods increased by 21.0% over the same period last year. Including retail sales of duty-free goods amounted to 3.294 billion yuan, an increase of 2.4 times over the same period last year, which was the main factor behind the growth of total retail sales of consumer goods; car sales rose 46.7% over the same period last year.
Hainan has taken many measures to promote consumption, reduce consumer poverty, new tax exemption policies, interim measures on car consumption and many other policies and measures to promote consumption have achieved good results.
Duty-free sales have doubled some product categories. Among retail sales of oversized units in August, cosmetics increased by 203.7%, compared to the same period last year, gold, silver and jewelry increased by 184.5%, essential goods increased by 128.4%, and equipment communications grew by 95.0%.
In August, the decline in tourist numbers in the province fell by 8.5 percentage points from the previous month. Among them, the number of overnight arrivals increased by 0.1% year on year, reaching positive growth this month. Under the influence of this, the growth rate of revenue from catering in August "became positive", increasing by 6.6% compared to the same period last year.
At the same time, Hainan has made every effort to spur consumption by increasing the supply of consumer goods, enriching consumer industry formats and improving customer service, striving to meet the annual growth target for total retail sales of social consumer goods and build an international tourism consumption hub.
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Created: 24 September 2020