During the Spring Festival and after the holiday, the consumption demand for luxury goods, high-grade tobacco and alcohol, gold and silver jewellery, various gifts, catering and accommodation was greatly reduced, resulting in a sharp drop in sales of the commerce and circulation service industry. According to the statistics of the Information Department of Hebei Provincial Commercial Federation, the sales of key retail enterprises in Hebei Province reached 25.068 billion yuan in the first quarter, an increase of 750 million yuan over the same period of last year, an increase of 3.08%, which was 5.12 percentage points lower than the growth rate of the same period last year. The lowest growth rate in two years.
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Among the 25 commodity categories of key retail enterprises in Hebei Province, 16 were up year-on-year, and 9 were down year-on-year. Among them, only 7% of gold and silver jewellery, hardware and electrical materials, books and magazines, electronic publications and audio-visual products, Chinese and Western medicines, furniture, and metal materials have increased by 10% compared with the same period of last year. More than 6% decreased by 6 categories, while the year-on-year decline increased by 5 categories.
According to statistics, the sales of gold and silver jewellery in the first quarter reached 2.045 billion yuan, a year-on-year increase of 11.86%, but the growth rate decreased by 4.04 percentage points compared with the same period of last year.
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