E-commerce continues to eat into retail sales

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July 8, 2016

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E-commerce continues to eat into retail sales

Source: Xinhua | July 8, 2016, Friday |

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CHINA’S large retailers posted slower growth last year, with brick-and-mortar stores under continuous pressure due to booming e-commerce, a report said yesterday.

The country’s top-100 retailers generated a sales volume of 4.13 trillion yuan (US$618 billion) in 2015, up 22.4 percent year on year, but the volume was down by 3.8 percentage points compared with 2014, said a report released by China General Chamber of Commerce.

However, the growth for brick-and-mortar stores continued to be slow as sales rose only 3.2 percent year on year.

Internet giant Alibaba’s T-mall e-commerce platform emerged as the top seller last year, followed by JD.com and Suning.com.

The report pointed out that foreign retailers continued to suffer a decline in their market share in China last year, resulting in fewer foreign players making it into the top 100. They also suffered a slower sales growth, according to the report.

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E-commerce continues to eat into retail sales

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