Yamato: Mainland retail sales growth in August fell short of expectations and demand was still weak

The Zhitong Finance App learned that Yamato released a research report saying that retail sales in the mainland in August fell short of expectations, and demand is still weak. Among them, communication equipment performed most prominently, with a year-on-year increase of 27.3%, driven by the continued rise in average sales prices and the product upgrade cycle; alcohol and tobacco sales accelerated to a 12.5% year-on-year increase, compared to 6% in July, or due to improved banquet consumption and a lower base.

According to the report, household electronics products resumed positive growth, up 2.3% year on year; cosmetics increased 4.9% year on year. Although slightly slower than 6.8% last month, performance was still superior to other industries; beverages improved from 3.5% in July to 4.9% year on year.

In terms of the hotel industry, the bank estimates that the revenue per saleable property (RevPAR) in August fell 3% to 4% year on year in July to a low year-on-year increase in units, benefiting from improved weather driving summer travel demand, but it will face a higher base starting in mid-September. The decline in sports and entertainment products narrowed to 4.8% year-on-year, compared to 10.6% in July, but the demand and competitive environment remained unfavorable. The decline in gold and silver jewelry widened to a year-on-year decline of 17.5%, compared to 10.1% in July, due to fluctuations in spot gold prices and high base figures in August.