According to data released by the National Bureau of Statistics on October 19, total retail sales of consumer goods increased by 1.1% year on year from January to September 2026. Retail sales of tobacco and alcohol reached RMB 510.5 billion, up 12.6% year on year, outpacing the growth in total retail sales of consumer goods.

This difference in growth rates indicates that retail sales of tobacco and alcohol performed relatively well in the consumer market during the period. However, tobacco and alcohol are reported as a combined statistical category, so its overall growth cannot be equated directly with growth in alcohol consumption, nor should it be used to infer beverage market performance. Assessing specific changes in the alcohol market requires more detailed category data.

For businesses in the sector, these figures offer a reference point for observing changes in retail sales value. However, growth in retail sales value does not directly mean that sales volumes have risen in parallel, nor can it alone indicate that corporate profits or channel inventory have improved. Changes in prices, product mix, and sales volume can all affect retail sales value, so the specific drivers of growth require further observation.

Going forward, it will be worth watching whether growth in tobacco and alcohol retail sales continues and whether performance in individual categories follows the overall trend. Only by considering information such as sales volumes, prices, and channel inventory can the impact of this growth on procurement and replenishment demand be assessed more clearly.