With encouraging signs that the COVID-19 outbreak is being contained in Mainland China and Hong Kong as the number of confirmed cases continues to decline, recent market trends have revealed that the consumer segment in China has emerged stronger and healthier after a swift recovery from the public health crisis.
How long the recovery of the retail sector will last depends on economic uncertainty at home, exports and domestic demand conditions, financial health of China’s private sector, coupled with complex international relations – all of which will continue to weigh on growth prospects of the sector. Nonetheless, the crisis has exposed the urgency of many brands and retailers to adopt or accelerate their digital transformations.
Find out more about how China’s retail and consumer market is recovering from this public health crisis and eventually back to business.
Asia Pacific, Mainland China and Hong Kong Consumer Markets Leader, PwC China
Tel: + 2289 1033