Japan Retail Sector: Shanghai business environment: June retail sales total, notably tough for consumer electronics, telecom equipment and auto related products

研报英文原文证据摘录

Japan Retail Sector: Shanghai business environment: June retail sales total, notably tough for consumer electronics, telecom equipment and auto related products

Global Research

28 July 2026ab

Japan Retail Sector Equities

JapanShanghai business environment: June retail sales

total, notably tough for consumer electronics, Retail

telecom equipment and auto related products Takahiro KazahayaAnalyst

takahiro.kazahaya@ubs.com

+81-3-5208 6226

Summary Kazuki Oike

Analyst

On 20 July, the Shanghai Municipal Bureau of Statistics announced total retail value of kazuki.oike@ubs.com

consumer goods sales for June. Here we present an overview of the data and +81-3-5208 6964

implications.

Hirotaro Hasegawa

Associate Analyst

Shanghai total retail sales fell 5.5% yoy in June hirotaro.hasegawa@ubs.com

According to the Shanghai Municipal Bureau of Statistics, total retail sales of consumer +81-3-5208 6684

goods in June fell 5.5% yoy (May was -4.7% yoy), down for the third straight month.

Looking at sales value by category at companies with sales above the specified level,

sales of food products grew 4.8% yoy, apparel sales rose 1.3%, cosmetics sales

increased 10.1%, gold, silver, and jewelry sales declined 10.0%, sales of daily necessities

declined 5.4%, home appliance sales fell 31.2%, sales of office supplies fell 15.1%,

telecommunications equipment sales fell 18.9%, automobile-related sales fell 20.0%,

and restaurant sales declined 1.0% Figure 1YoychangeintotalretailsalesbycategoryforApr–Jun2026(enterprisesabovethesetscale)). For January-June, the total retail value of

consumer goods sales was up 0.7% yoy, and looking at sales value by category at

companies with sales above the specified level during the same period, food product