China expected to surpass US as world’s largest retail market

January 28, 2019 – China could become the world’s top retail market this year, displacing the United States, according to a report from eMarketer today.

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The report forecasts that China will surpass the US in retail sales by more than $100 billion. In 2019, China’s total retail sales will grow 7.5% to reach $5.636 trillion. US sales are expected to grow 3.3% to $5.529 trillion. While growth rates for both nations are slowing, China’s growth rate is expected to exceed the United States through 2022.

E-commerce is a major driver of China’s retail economy, with sales growing more than 30% in 2019 to reach $1.989 trillion. As a result, slightly more than one-third of China’s retail sales will take place online, which would be the highest rate in the world.

US e-commerce sales account for 10.9% of total retail sales., according to the report.

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