The Zhitong Finance App learned that on October 23, the All-China Business Information Center released an analysis of the consumer market performance in the first three quarters of 2026. In the first three quarters, various departments in various regions implemented in-depth special actions to boost consumption. A series of policies to promote consumption were implemented one after another and showed results. Residents' service and experiential consumption grew rapidly, promoting the overall smooth operation of the consumer market, expansion and quality improvement. In the first three quarters of 2026, total retail sales of social consumer goods and services in China increased by 2.6%, 0.1 percentage points faster than in January-August. Total retail sales of consumer goods amounted to 370.1 billion yuan, a cumulative increase of 1.1%. Among them, retail sales of consumer goods other than automobiles amounted to 345.74 billion yuan, an increase of 2.8%. In September, total retail sales of consumer goods increased by 1.1%, 0.7 percentage points faster than the previous month. Among them, retail sales of consumer goods other than automobiles were 3879.2 billion yuan, up 3.9% year on year, and 1.4 percentage points faster than the previous month.
The rural market is growing faster than the town
As the construction of a unified national market progresses in depth, the construction of the county and township commercial system continues to be improved, promoting the continuous release of the consumption potential of the county market. In the first three quarters, retail sales of urban consumer goods reached 3,182 billion yuan, a cumulative increase of 0.9%, down 0.1 percentage points from January-August; retail sales of rural consumer goods amounted to 5018.1 billion yuan, a cumulative increase of 2.3%, the same growth rate as in the previous August. Retail sales of rural consumer goods grew 1.4 percentage points faster than in urban areas. According to estimates by the National Bureau of Statistics, in the first three quarters, retail sales of consumer goods in counties and towns, including towns and rural areas, accounted for 39.1% of total retail sales of social consumer goods, an increase of 0.3 and 0.1 percentage points, respectively, over the same period of the previous year and the first eight months.
In September, retail sales of urban consumer goods were 3607.7 billion yuan, up 0.8% year on year, 0.6 percentage points faster than the previous month; retail sales of rural consumer goods were 635.6 billion yuan, up 2.7% year on year, and 1.1 percentage points faster than the previous month. The growth rate of retail sales of consumer goods in rural areas is 1.9 percentage points faster than in urban areas, and sales growth in rural markets has continued to be faster than in urban areas since the second half of last year.
Merchandise retail sales have generally achieved positive growth
In the first three quarters, retail sales of goods reached 32803.2 billion yuan, a cumulative increase of 1.0%. The growth rate was the same as in the previous 8 months. Among them, retail sales of products per unit above the limit were 12785.9 billion yuan, a cumulative decrease of 1.8%, an increase of 0.1 percentage points over the previous 8 months.
Thanks to factors such as the wrong month of the Mid-Autumn Festival and the increase in rest days, retail sales of products in September were 3783 billion yuan, up 1.0% year on year, and the growth rate increased 0.7 percentage points from the previous month. Among them, retail sales of products per unit above the limit were 1546 billion yuan, a year-on-year decrease of 2.5%, and the decline was 1.5 percentage points narrower than the previous month. According to estimates, retail sales of products above the limit, excluding automobiles, increased by 5.2% year-on-year, 3.4 percentage points faster than the previous month.
Online retail is growing rapidly
The online consumption scenario continues to innovate, the supply in the online market is becoming more and more abundant, and online retail has become an important channel to support consumption growth. In the first three quarters, retail sales of online goods and services nationwide reached 15147.1 billion yuan, a cumulative increase of 4.4%. Among them, retail sales of online products amounted to 950.6 billion yuan, an increase of 3.8%, which is 2.8 percentage points faster than retail sales. In online retail sales, food, clothing, and consumer goods increased by 15.8%, 3.4%, and 0.8%, respectively. The deep integration of online and offline is strongly driving the growth of retail sales. According to estimates by the National Bureau of Statistics, in the first three quarters, retail sales of products achieved by units above the limit through the Internet accounted for 31.8% of the retail sales of units above the limit, an increase of 3.9 percentage points over the same period last year.
The one-stop, experiential, high-quality retail format is developing rapidly
Modern information technology is widely used to accelerate the digital transformation of traditional retail formats and the innovative integrated development of physical retail. In the first three quarters, retail sales of warehousing member stores and unattended stores above the limit all grew by more than 25% year on year, retail sales in shopping malls increased by more than 10%, and retail sales of collective stores continued to accelerate; retail sales of convenience stores and supermarkets increased by 5.2% and 4.1%, respectively; retail sales of specialty stores, department stores, and brand specialty stores decreased by 2.2%, 2.9%, and 10.3%, respectively.
Upgraded products such as smart green are growing
In the first three quarters, retail sales of nearly 60% of product categories increased among units above the limit, and retail sales of the six categories grew by more than 5%. Basic lifestyle products are growing steadily. In the first three quarters, retail sales of food, clothing, shoes, hats, knitwear, and daily necessities products increased by 6.8%, 4.6%, and 3.8%, respectively, per unit above the limit, and have maintained steady growth since this year. Tobacco, alcohol, beverages, and Chinese and Western pharmaceuticals increased by 12.6%, 5.4%, and 4.0% respectively; in September, retail sales of tobacco, alcohol, food, and beverages increased by 13.8%, 6.7%, and 5.0%, respectively, among food products.
The results of the implementation of the consumer goods trade-in policy continue to show. Renewal and iteration, quality improvement, and green and low carbon are becoming new trends in commodity consumption. In the first three quarters, retail sales of communications equipment and cultural and office supplies products per unit above the limit increased by 18.1% and 6.2%, respectively. The growth rates were 3.7 and 0.4 percentage points faster than in the first half of the year. Retail sales of wearable smart devices and energy-efficient household appliances all maintained rapid growth. Looking at September, sales of digital products continued to be strong, driving retail sales of communication equipment products to increase by 31.1%, the highest rate since June last year. Retail sales of cultural and office supplies products increased by 7.9%, 2.1 percentage points faster than the previous month.
The decline in retail sales of key large retail companies has narrowed
According to statistics from the All-China Business Information Center, in the first three quarters of 2026, the total retail sales of the country's 100 major retail enterprises (mainly department store groups) fell by 1.4%, which was narrower than in the previous August. Looking at the main product categories, some upgraded products continued their growth trend. Retail sales of gold and silver jewelry and sports and entertainment products increased by a cumulative total of 11.9% and 5.7% respectively, and the overall performance of the market was relatively good. In September, retail sales of 100 key large retail enterprises across the country (mainly department store groups) fell slightly by 0.1% year on year. Consumer demand during the Mid-Autumn Festival holiday was released, and the decline was 4.1 percentage points narrower than the previous month.
Unleash service consumption potential
China's consumer market has entered a stage of “good+service” two-wheel drive development, and service consumption is increasingly becoming an important engine driving consumption growth. In the first three quarters, retail sales of services increased by 5.0%, which was 4.0 percentage points faster than retail sales of goods. Among them, retail sales of online services reached 5641.1 billion yuan, an increase of 5.3%. The growth rate was 1.5 percentage points higher than retail sales of online products during the same period. Residents' willingness to travel on holidays has increased, various special cultural tourism activities are exciting, and the popularity of immersive and experiential consumption is rising. Retail sales of tourism, sports, and transportation services achieved relatively rapid growth. Among them, retail sales of travel consulting and rental services and cultural, sports and leisure services increased by 10.7% and 9.7% respectively. According to data from relevant departments, during the Mid-Autumn Festival holiday, the entire society moved 643 million people across regions, an average of 214 million people per day. The number of domestic travelers and total travel expenses during the National Day holiday increased by 6.3% and 4.3%, respectively, according to comparable measures. Consumption of information services is growing well, and retail sales of communication and information services continue to grow in double digits.
Food and beverage revenue for the first three quarters was 419.9 billion yuan, a cumulative increase of 2.4%. The growth rate was the same as in January-August. Among them, the food and beverage revenue of units above the limit was 1252.8 billion yuan, a cumulative increase of 1.3%. The growth rate was 0.1 percentage points faster than in January-August. In September, food and beverage revenue was 460.3 billion yuan, up 2.1% year on year. The growth rate was 1.0 percentage point faster than in August. Among them, the food and beverage revenue of units above the limit was 141.3 billion yuan, an increase of 2.0% over the previous month, and the growth rate was 2.7 percentage points faster than the previous month.
Consumer prices have continued to rise moderately
National consumer prices rose 0.9% year on year in the first three quarters, the same increase as in the previous 8 months. Among them, cities rose 0.9%, rural areas rose 0.7%; food prices fell 0.9%, non-food prices rose 1.3%; consumer goods prices rose 1.0%, and service prices rose 0.8%. After deducting food and energy, the core CPI rose 1.1%. Looking at the eight major categories, food, tobacco, alcohol, and food and beverage prices fell 0.9% year on year, affecting the CPI (Consumer Price Index) decline by about 0.26 percentage points. Prices in the other seven categories rose and fell six times over the same period last year. Among them, prices of other goods and services, transportation and communications, and health care increased by 5.9%, 4.3% and 2.7%, respectively; prices of education, culture and entertainment, clothing, daily necessities and services increased by 1.4%, 1.2%, and 0.2%, respectively; and housing prices decreased by 0.3%. In September, consumer prices rose 0.9% year on year, and the overall price level showed a moderate upward trend.
