By 2025, the total retail sales of consumer goods will exceed 50 trillion yuan, and the advantages of a super large market will continue to emerge
2025 is the year when the 14th Five Year Plan comes to an end. Business departments at all levels will thoroughly implement the decisions and deployments of the Party Central Committee and the State Council, vigorously promote the special action to boost consumption, deeply implement the exchange of old for new consumer goods, create the "Buy in China" brand, and continue to unleash consumer potential. The total retail sales of consumer goods reached 50.1 trillion yuan, an increase of 3.7%. Among them, the retail sales of goods increased by 3.8%, and the catering revenue increased by 3.2%. The contribution rate of final consumption expenditure to economic growth reaches 52%, continuously playing the role of the main engine of economic development. During the 14th Five Year Plan period, the total retail sales of consumer goods reached new heights of 40 trillion yuan, 45 trillion yuan, and 50 trillion yuan, providing strong support for promoting sustained economic recovery and better meeting the needs of the people for a better life.
Firstly, the consumption of bulk durable goods is growing steadily. By 2025, the trade in of consumer goods will drive sales of related categories to reach 261 trillion yuan, benefiting 366 million people. A large number of green and intelligent products will enter thousands of households, improving people's quality of life. The retail sales of passenger cars reached 23.744 million units, an increase of 3.8%. Among them, the penetration rate of the new energy passenger vehicle market reached 53.9%. The retail sales of household appliances by units above the quota reached 1.17 trillion yuan, an increase of 11%, and exceeded the trillion yuan mark for two consecutive years; The retail sales of communication equipment, cultural office supplies, and furniture increased by 20.9%, 17.3%, and 14.6% respectively.
Secondly, the consumption of daily necessities has steadily increased. By 2025, the retail sales of grain, oil, and food products by units above designated size will increase by 9.3%, and healthy consumption will become mainstream. Organic food and green agricultural products will become the new favorites on the dining table. The retail sales of clothing, shoes, hats, needles, and textiles increased by 3.2%. New Chinese style clothing such as Hanfu and "horse faced skirts" became popular, and sales of functional fabric products increased significantly. The retail sales of daily necessities increased by 6.3%, maintaining stable growth.
Thirdly, there is a strong demand for upgraded products. By 2025, the retail sales of sports and entertainment products for units above designated size will increase by 15.7%, and there will be strong demand for equipment such as ice, snow, hiking, and cycling; Business big data shows that sales of smart glasses, smart watches, and smart bracelets on key platforms have all increased by over 40%. The retail sales of cosmetics increased by 5.1%, with Eastern aesthetics leading the trend of beauty consumption. The retail sales of gold, silver and jewelry increased by 12.8%, and products that integrate traditional cultural elements with modern design concepts are highly favored by consumers.
Fourthly, there are various highlights in the consumption of characteristic products. The first launch is full of economic vitality, with intensive releases of new products in fields such as intelligent connected vehicles and smartphones. The first stores of domestic and foreign brands are accelerating their landing, stimulating new consumer momentum. Domestic trendy products are widely popular, and a group of time-honored brands and new consumer brands are collaborating to innovate and create new products and scenarios, which are highly sought after by consumers. The trend of "IP+consumption" is booming, with sales of movie derivatives in the summer of 2025 increasing by more than double year-on-year, leading the consumption boom.