The slowing luxury consumer sales in China aren’t doing much to ease fears of investing in the country.
But consumer retail sales just might…
While some brands like Burberry (PINK: BURBY) and China’s version of Tiffany’s (NYSE: TIF), Chow Tai Fook, have been suffering from sluggish sales in the country, that’s not the case for all retailers. Overall retail sales are actually posting double-digit growth.
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The trend isn’t going unnoticed by analysts…
Nielson’s more optimistic about China than it’s been in close to three years.
Reorient Financial Group thinks it’s “clear that domestic consumption is becoming a strong point for China.”
Goodman Group, which leases warehouse space to global retailers, says, “What we’re seeing in our segment is actually strong growth. I’ve been involved in our business in China pretty much since inception in 2005 and we’re seeing demand pretty much at all-time highs.”
And since domestic consumption accounts for over half of China’s GDP, Goldman Sachs (NYSE: GS) is tuned in: “The retail sector we think has sunk to very, very cheap valuations… A lot of Chinese retail stocks, which historically trade at a big premium over developed market retail names, are now actually trading on par or at a discount.”