China’s retail sales rose 5.9% YoY in March to 4.094 trillion RMB ($565 billion), according to the National Bureau of Statistics. Cosmetics sales reached 42.8 billion RMB ($5.91 billion), up just 1.1%, marking a sharp slowdown from previous years. In the first quarter, total retail sales grew 4.6% to 12.467 trillion RMB ($1.72 trillion), with cosmetics up 3.2% to 114.9 billion RMB ($15.87 billion). The slowdown reflects a shift toward stable growth amid tighter regulations and increased competition. Online retail rose 7.9%, with physical goods accounting for 24% of total sales. Food and household goods saw gains, while apparel sales declined slightly.