China Retail Market Outlook 2023
Even though China lifted many of the Covid-19 restrictions at the end of 2022, consumer confidence and macroeconomic conditions may still lead to uncertainty in 2023.
After the initial impact of the pandemic in Q1, it is expected that the retail market will start a slow recovery in Q2, with a full recovery and strong increase in sales, forecasted for the second half of the year.
As consumers intend to spend more on high-end design and lifestyle products, a 10+% increase in imports of furniture and lifestyle products is expected.
However, it's important to note that the situation is still uncertain, and it's hard to predict the exact outcome. Businesses should closely monitor the situation, and be prepared to adapt to changes in consumer behavior and market conditions.
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