STORES | Staff Reporter, China

China's retail market forecast to reach $6.95t amidst 4% decline: study

The country may become the world’s largest retailer.

China’s retail market will drop by 4% to reach $6.95t (US$5.08t) in 2020, according to research data published by, based on eMarketer’s findings.

Meanwhile, the US’ retail market is forecasted to take a bigger hit and finish at $6.69t (US$4.89t), therefore placing China in the lead.

According to, August saw the first monthly retail growth since the beginning of the year, marking a 0.5% YoY increase in sales.

In August, China’s cosmetics, jewellery, office supplies, and telecoms sales rose by 19%, 15.3%, 9.4%, and 25.1%, respectively.

Building materials and furniture sales, on the other hand, plummeted by -2.9% and -4.2%, respectively.

From January through August, online sales of physical goods grew by 15.8%. During the same stretch, overall online sales soared by 9.5% YoY to $1.41t (US$1.03t), with food sales accounting for 35.4% of the growth.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.