• Home
  • News
  • Retail in 2019: USA to lose its No. 1 retail spot to China
News Retail

Retail in 2019: USA to lose its No. 1 retail spot to China

According to eMarketer’s latest worldwide retail and e-commerce forecast, China is set to become the Number 1 retail market in 2019, surpassing the United States by over US $ 100 billion.

The Chinese retail market will grow by 7.5 percent to reach US $ 5.636 trillion this year. Meanwhile, US retail sales will grow by 3.3 percent to hit US $ 5.529 trillion.

Moreover, China’s growth rate will exceed that of the US till 2022.

The report states that e-commerce is the prime driver of China’s retail economy with sales growing by 30 percent in 2019 to reach US $ 1.989 trillion which means that 35.3 percent of China’s retail sales occur online, the most in the world.

Notably, China surpassed the US in e-commerce sales in six years back.

Download Perfect Sourcing News App for Latest Business of Fashion News.

Related posts

Intertextile Shanghai Apparel Fabrics ’18 opens with 4,479 exhibitors presenting innovations in textile

Emerging manufacturing hub Ethiopia opens for textile & apparel park

Fashion chain Brand Factory to take online route

Leave a Comment