Multinational giants defy China’s sluggish retail market with strong 2026 sales
The likes of Adidas and L’Oreal are thriving in the evolving market, showcasing strong growth driven by changing consumer demands Major consumer goods multinationals – including Coca-Cola and Unilever – have reported strong sales growth in China during the first half of the year, indicating continued opportunities in the world’s second-largest consumer market despite headwinds. In the first six months of the year, German sportswear maker Adidas saw sales rise by 16 per cent year on year in China, reflecting strong market share gains, the company said in its half-year earnings report on Thursday. The firm added that growth tied to the 2026 Fifa World Cup had also offered a boost. “Multinationals’ sales growth reflects profound structural segmentation in China and is primarily driven by consumption upgrading and demand divergence trends,” said Fu Yifu, a special research fellow at Su Merchants Bank in Nanjing, capital of the eastern province of Jiangsu. “Against a sluggish broader market, demand for quality-value products and self-reward spending gains traction. The key for companies lies in accurately identifying and catering to evolving consumer demands,” Fu added.
