30 Dec '11, 10am

China retail sales show strong growth in 2011

China retail sales show strong growth in 2011

SHANGHAI: Retail sales in China continued to show strong growth in 2011, rising by about 17 percent on-year. Automobiles and consumer electronic products led the pack, with some segments jumping by more than 40 percent. Experts say with urbanisation, the thirst for luxury goods in China is growing faster than ever before. Year-end sales are attracting huge crowds of customers, reflecting the bustling retail scene in major Chinese cities. Some industry watchers say with growing urbanisation, spending habits are also changing. John A. Quelch, Vice President and Dean of the China Europe International Business School, said: "You have more people coming into the city, being exposed to brands, being exposed to products and services they haven't experienced before. "Usually that leads to aspiration to... get a piece of that kind of lifestyle, and so with urbanisation comes the mo...

Full article: http://www.channelnewsasia.com/stories/economicnews/view/...

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