China: Retail Foods
Link to report:
China’s retail sector continues to grow to new highs as the number of middle-class consumers keeps growing. Online and offline stores continue to expand their footprint to attract customers who increasingly value quality, safety, convenience, and nutrition. The retail food industry held up relatively well despite the COVID-19 economic downturn during the first half of 2020. Imports of consumeroriented food products climbed to a record high of $73 billion in 2019, but U.S. sales were down because of China’s retaliatory duties. However, imports of U.S. retail food products are gaining ground in 2020 because of the U.S.-China Economic & Trade Agreement.
