The growth rate of China's retail market has slowed down, with a year-on-year increase of 9.4% in th

The National Bureau of Statistics released retail data for July 2016, indicating that the total retail sales of consumer goods in China reached 2.6827 trillion yuan in July 2016, a year-on-year nominal increase of 10.2% (a real growth of 9.8% excluding price factors). Among them, the retail sales of consumer goods by enterprises above designated size amounted to 1.1806 trillion yuan, an increase of 7.3%.

From January to July 2016, the total retail sales of consumer goods amounted to 18.2966 trillion yuan, a year-on-year increase of 10.3%. Among them, the retail sales of consumer goods by enterprises above designated size reached 8.2921 trillion yuan, with an increase of 7.5%.

Building Products as Core Competence

The development of a brand enterprise needs to go through three stages: the first stage is to produce good products, the second stage is to establish a brand, and the third stage is to inherit culture. At present, building brand core competitiveness requires showcasing products to consumers. "At this stage, we emphasize the stickiness between products and consumers. As we move into the second stage, we pay more attention to brand value promotion. Consumers will only recognize the brand when they recognize the product. When our value proposition is recognized by consumers, we will be a successful brand," said Mr. Wen Qiang, Brand Director.