China Will Top US as #1 Retail Market This Year, Study Says
- 5 years ago
China Will Top US as #1 Retail
Market This Year, Study Says 2019 Chinese retail sales are
expected to reach $5.6 trillion,
compared to $5.5 trillion in the U.S. The Chinese retail market
is expected to grow 7.5%,
compared to a U.S.
retail growth of 3.3%. eMarketer predicts
that China will outpace
the U.S. through 2022. Annual per capita spending in the U.S.
is more than 4 times that of China. U.S. per capita sales in 2019
are estimated at $16,661,
compared to China's
projection of $4,056. Over the past decade,
millions of Chinese have
migrated from the country's
rural areas to its cities. As a result, their wages
have increased, helping
to create a "new middle class." By the close of 2019,
China is expected to account for
55.8% of the world's online retail sales.
Market This Year, Study Says 2019 Chinese retail sales are
expected to reach $5.6 trillion,
compared to $5.5 trillion in the U.S. The Chinese retail market
is expected to grow 7.5%,
compared to a U.S.
retail growth of 3.3%. eMarketer predicts
that China will outpace
the U.S. through 2022. Annual per capita spending in the U.S.
is more than 4 times that of China. U.S. per capita sales in 2019
are estimated at $16,661,
compared to China's
projection of $4,056. Over the past decade,
millions of Chinese have
migrated from the country's
rural areas to its cities. As a result, their wages
have increased, helping
to create a "new middle class." By the close of 2019,
China is expected to account for
55.8% of the world's online retail sales.