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Online retail sales in China rise 11.2% YoY during Jan-Oct 2023
19 Nov '23
1 min read
Pic: Adobe Stock
Insights
- Online retail sales of physical goods in China rose by 11.2 per cent YoY during the first ten months this year to 12.3 trillion yuan, contributing 32.1 per cent to retail sales growth.
- Sales of livestreaming e-commerce exceeded 2.2 trillion yuan in the period, rising by 58.9 per cent YoY and driving the growth of online retail sales by 7.5 percentage points.
The first ten months this year witnessed steady growth in China's online retail sales and livestreaming e-commerce became popular, the country’s ministry of commerce recently said.
Online retail sales of physical goods nationwide rose by 11.2 per cent year on year (YoY) during the period to 12.3 trillion yuan ($1.72 trillion), contributing 32.1 per cent to the country’s retail sales growth, the ministry said.
Sales of livestreaming e-commerce exceeded 2.2 trillion yuan during the period, surging by 58.9 per cent YoY and driving the growth of online retail sales by 7.5 percentage points, a state-controlled media outlet reported.
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