Online retail sales increase 32% in first quarter
May 2, 2017 Category Retail, Weekly
China’s online retail sales posted robust growth in the first quarter of the year, reaching over CNY1.4 trillion, up 32.1% year-on-year and more than double the pace of total retail sales, the Ministry of Commerce (MOFCOM) said. Sales of travel and take-away food rose by 64% and 163%, respectively. According to research firm Mintel, the online cross-border shopping market is expected to post an annual growth rate of 15% from 2016 to reach CNY1.3 trillion by 2021.
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