10月电商月报:高基数叠加国补退坡 线上实物零售增速放缓

中金公司
Nov 16, 2025

行业近况国家统计局近期公布2025 年10 月线上零售数据。评论我们据统计局数据测算:2025 年10 月社会消费品零售总额4.6万亿元,同增2.9%,增速相比2025 年9 月基本持平。2025 年10 月线上零售总额(包括实物和虚拟物品)1.5 万亿元,同比提升8.1%,增速相比2025 年9 月增长11.4%减速。2025 年10月线上虚拟物品销售额同比上升26.9%至2630 亿元。线上...

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