Online shopping picks up
Print Edition
CHINESE consumer spending of fast moving consumer goods grew just 2 percent in the first quarter from a year ago as traditional retail channels lost momentum while online shopping picked up, according to a latest study.
International retailers, which saw their combined market share drop 0.3 percentage points to 13.2 percent from a year ago, are showing signs of recovery, Kantar Worldpanel said in its quarterly report yesterday.
Spending on consumer goods via e-commerce channels surged 48.1 percent due to higher adoption of online purchasing and discounts offered by online retailers to woo buyers.
The fastest rise in e-commerce spending was in county-level cities after e-commerce firms tapped consumer demand and boosted logistics capabilities.
Sun-Art Group led with a 9.3 percent market share nationwide in the first quarter, up from 7.8 percent a year ago. It was followed by Vanguard Group’s 6.4 percent.
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