China's retail market is estimated to hit US$6.77 trillion by 2019 with e-commerce representing 14.46% of this market. The population of post-80s and post-90s totaled nearly 411 million, more than that of North America. As the millennials group is becoming stronger in consumption and disposable income, brands come to treat them as target customers. 92% of consumption will come outside of tier-1 cities between 2016 and 2030. The integration of online and offline channels in retail becomes a reality.
China's retail market trend
China has surpassed the US to be the largest retail market worldwide. The total retail sales of consumer goods amounted to 34,509.3 billion yuan (US$4,995.92bn) for the past 11 months in 2018, up by 9.1% year-on-year, according to the National Bureau of Statistics. In the US, the estimated retail sales (not adjusted) was US$6,810.87 billion in the same period, an increase of 5.2% year-on-year, according to the U.S. Census Bureau.
China is also the world's...
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