China's online retail sector experienced robust growth in the first four months of 2024, with sales rising by 11.5 per cent year-on-year to reach 4.41 trillion yuan (approximately $620.52 billion) according to latest update by the ministry of commerce. This surge in online retail is attributed to the continuous boost in consumption from emerging growth forces.The ministry highlighted that online sales of physical goods saw an 11.1 per cent increase compared to the same period last year, amounting to 3.74 trillion yuan. This segment contributed 23.9 per cent to the total retail sales of consumer goods in China, underlining the significant impact of e-commerce on the nation's retail landscape.
China's online retail sales grew 11.5 per cent year-on-year to 4.41 trillion yuan (~$620.52 billion) in the first four months of 2024, driven by emerging consumption forces, as per the ministry of commerce.
Online sales of physical goods increased by 11.1 per cent to 3.74 trillion yuan, contributing 23.9 per cent to China's total retail sales.
Fibre2Fashion News Desk (DP)
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