RESEARCH firm eMarket PREDICTED that China will become world's biggest retail market in 2019. According to the report, the sale boom is a result of China's rising incomes and thriving e-commerce. The report says China will overtake US in 2019 and total retail sales will grow 7.5% to reach 5.636 trillion USD in 2019, while US will grow 3.3% to 5.529 trillion. One- fifth of the country's total sales in 2018 was from e-commerce which is a major driver of China's retail economy. As PER predictions US share of the global e-commerce market is expected to drop to 15 percent by 2022. By the end of 2019, China will have 55.8 percent of all online retail sales globally which is also expected to exceed 63% by 2022. "> RESEARCH firm eMarket PREDICTED that China will become world's biggest retail market in 2019. According to the report, the sale boom is a result of China's rising incomes and thriving e-commerce. The report says China will overtake US in 2019 and total retail sales will grow 7.5% to reach 5.636 trillion USD in 2019, while US will grow 3.3% to 5.529 trillion. One- fifth of the country's total sales in 2018 was from e-commerce which is a major driver of China's retail economy. As PER predictions US share of the global e-commerce market is expected to drop to 15 percent by 2022. By the end of 2019, China will have 55.8 percent of all online retail sales globally which is also expected to exceed 63% by 2022. ">
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Which country will become the world's biggest retail market in 2019, as per the prediction of research firm eMarket?

Current Affairs International in Current Affairs 1 year ago

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RESEARCH firm eMarket PREDICTED that China will become world's biggest retail market in 2019. According to the report, the sale boom is a result of China's rising incomes and thriving e-commerce. The report says China will overtake US in 2019 and total retail sales will grow 7.5% to reach 5.636 trillion USD in 2019, while US will grow 3.3% to 5.529 trillion. One- fifth of the country's total sales in 2018 was from e-commerce which is a major driver of China's retail economy. As PER predictions US share of the global e-commerce market is expected to drop to 15 percent by 2022. By the end of 2019, China will have 55.8 percent of all online retail sales globally which is also expected to exceed 63% by 2022.
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Posted on 31 Jul 2024, this text provides information on Current Affairs related to International in Current Affairs. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.

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