In 2023, the turnover of retail communication appliances in China stood at 72.6 hundred million Yuans Renminbi. Forecasts for the coming years show a gradual decline in turnover:
- 2024: 71.43 hundred million Yuans Renminbi (1.62% decline YoY)
- 2025: 70.3 hundred million Yuans Renminbi (1.58% decline YoY)
- 2026: 69.18 hundred million Yuans Renminbi (1.59% decline YoY)
- 2027: 68.06 hundred million Yuans Renminbi (1.62% decline YoY)
- 2028: 66.95 hundred million Yuans Renminbi (1.63% decline YoY)
The compound annual growth rate (CAGR) from 2024 to 2028 is a decline of approximately 1.61% per year.
Watch for:
- Technological advancements and product innovations influencing consumer demand.
- Policy changes impacting the retail environment and market accessibility.
- Economic conditions that may affect disposable incomes and spending habits.