Oct 08, 2018 (China Knowledge) - In the first half of 2018, China's total retail sales of consumer goods was RMB 18 trillion, up 9.4% YoY. The domestic online retail market transactions exceeded RMB 4 trillion, up 30% YoY, accounting for more than 20% of the total retail sales of consumer goods.
With the continuous improvement of people's consumption capacity and the gradual development of online shopping habit, the transaction scale of China's online retail market keeps increasing.
In particular, China's major e-commerce platforms contributed significantly to the growth of transaction scale in the first half of 2018.
The number of online shopping users in China in the first half of 2018 was 569 million, up from 516 million in the same period last year, still up 10.2% YoY.
As for June this year, China's B2C online retail market (including open platforms and self-operated sales, excluding brand e-commerce), Alibaba's Tmall still ranks first, accounting for over half of the market share, up to 55%, with a YoY growth of 5%. It was followed by JD.com with 25.2% of the market, up 0.8% from the same period last year. As the dark horse of e-commerce, Pinduoduo <PDD.NASDAQ> has won 5.7% of the market share, ranking third.
In the future, online and offline integration, and social e-commerce will become an important growth point in the future domestic online retail and even the entire retail market.
In addition, the e-commerce giants' layout of new retail and the rise of brick-and-mortar stores will further accelerate the expansion of online retail market.
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