Chinese Consumers Signal Spending Surge: Companies See Rebound
Major online retailers have seen more robust year-over-year revenue increases during the final quarter of 2024, signaling a rebound in spending growth — though this still hasn’t reached pre-pandemic standards. Nevertheless, the financial reports from specific businesses indicate robust consumer expenditure in specialized sectors, with firms like Laopu Gold and Pop Mart experiencing a significant uptick in sales. The competition continues to be intense in specific sectors like coffee and tea. BEIJING — The most recent financial statements from Chinese firms suggest a boost in consumer expenditure; however, this doesn’t yet equate to reaching the levels seen before the pandemic. In recent weeks, both major e-commerce companies Alibaba and JD.com reported that their retail operations in China experienced accelerated year-over-year revenue growth during the final quarter of 2024 compared to the same period in 2023. "We believe that the growth in consumptio...