While retail sales in China sputter in the face of economic and geopolitical challenges, ecommerce continues to thrive. Digital commerce players continue to innovate and recalibrate.
How much will retail sales in China grow in 2019?
Retail sales in China will grow 3.5% to $5.291 trillion this year. That’s considerably weaker than 2016’s growth rate of 10.4% and is a continuation of a slowdown that started in 2018. We forecast that growth will not see a rebound until 2021.
How much will consumers in China spend on retail ecommerce in 2019?
In 2019, retail ecommerce sales will expand 27.3%, reaching $1.935 trillion, or 36.6% of total retail sales. We forecast that retail ecommerce sales will maintain strong growth through the end of our forecast in 2023.
Which are the top retail ecommerce sites by sales in China?
Alibaba is the undisputed leader in 2019, taking in 55.9% of retail ecommerce sales. JD.com has a 16.7% share, while upstart Pinduoduo will grow much faster than any other site in the top 10.
What are the key drivers of retail ecommerce sales in China?
While digital buyer penetration is reaching saturation among younger demographics, it still has room to grow among consumers over 35. In rural areas and smaller cities, GDP is growing much faster than in the major city centers, and consumers there will continue to drive growth.
WHAT’S IN THIS REPORT? This report features our latest forecasts for retail ecommerce, mcommerce, digital buyers and the top ecommerce sites in China—as well as the latest developments in retail, social commerce and consumer behavior.
KEY STAT: China’s retail ecommerce sales in 2019 will grow much faster than total retail, increasing 27.3% year over year to $1.935 trillion. By 2023, retail ecommerce sales will represent 63.9% of total retail sales.
Estimates are included for the following areas:
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