(Yicai Global) June 9 -- Chinese retailers expect consumer spending to be back at pre-epidemic levels within a year as the country leads the recovery in the Asia-Pacific region, a survey by US commercial real estate services firm CBRE Research shows.

More than 80 percent of Chinese respondents expect sales to return to pre-Covid-19 levels within 12 months and 40 percent think they will bounce back by the end of this year, according to the Asia Pacific Retail Flash Survey conducted between April 28 and May 21 and released today.

The recovery rate of China’s retail sector is slightly ahead of other markets in the Asia-Pacific region, said Sam Xie, head of China research at CBRE. Footfall in shopping centers is getting back to normal levels, especially after promotional campaigns this quarter, he added.

Some 67 percent of the 33 Chinese mainland respondents expect to reopen their businesses within three months, making it the most optimistic market in the Asia-Pacific region, the survey showed.

Many have turned to online channels to keep operating. Twenty-seven percent of retailers said that the epidemic made e-sales a core business. This was particularly noticeable in the fashion and apparel and food and beverage sectors. Sixty-seven percent said they plan to boost investment in online retailing and delivery apps and 81 percent said they will increase their use of social e-commerce.

Despite the shift online, around 13 percent of those surveyed in China said they plan to open more bricks-and-mortar stores this year, making it the Asia-Pacific country most willing to expand after India.

Editor: Kim Taylor