国家统计局2026年9月15日发布8月零售数据：8月社零（不含汽车）同比增长2.5%（与7月持平）至3.7万亿元；电商销售（不含服务）同比增长2.2%至1.0万亿元，较7月的3.3%放缓，电商渗透率同比升0.5个百分点至29%。1-8月线上食品饮料增长15.9%、服装增长4.9%、家居用品增长1.1%。必选消费分化：8月食品增4.0%（7月5.3%）、饮料增4.9%（7月3.5%）、日用品增1.8%（与7月持平）。可选消费中，智能手机销售加速至同比增长27.3%（7月20.4%），或受上游零部件成本上涨推动的消费电子涨价及高端占比提升带动；家电恢复增长2.3%（7月下降1.9%）；PC增5.8%（7月7.4%）；化妆品增4.9%（7月6.8%）；服装降幅收窄至同比下降0.5%（7月下降1%）。
China e-commerce sales growth decelerated to 2.2% y-y in August. The National Bureau of Statistics (NBS) on 15 September 2026 released China's retail sales data for August 2026. China's retail sales (excluding auto sales) grew 2.5% y-y (the same growth level as that in July) to CNY3.7tn in August, during which China's e-commerce sales (excluding sales of services) rose 2.2% y-y to CNY1.0tn, decelerating from 3.3% in July. E-commerce penetration in China rose 0.5pp y-y to 29% in August. Based on NBS data, China's online food and beverage sales rose 15.9% y-y in 8M26, decelerating from 16.9% 7M26. Online apparel sales recorded a 4.9% y-y increase, down from 5.8% in 7M26. Online sales of household goods increased 1.1% y-y in 8M26, the same as the growth in 7M26. Within staples, food sales rose 4.0% y-y in August, decelerating from 5.3% in July. Beverage sales recorded 4.9% y-y growth in August, accelerating from 3.5% in July. The daily necessities category rose 1.8% y-y, same as the growt