The Chinese ecommerce market is predicted to grow to $3 trillion by 2024, according to figure from GlobalData.
Chinese online sales are also expected to grow 17.2 per cent and will surpass offline sales for the first time in 2021 according to a study published by eMarketer.
The report estimated that 52 per cent of China’s sales will take place online, up from 44 per cent in 2020 after the pandemic has accelerated the growth of ecommerce.
Ecommerce giants such as Alibaba and JD.com accounted for over 75 per cent of ecommerce sales in 2019, with the latter recently securing a partnership with luxury western brand Louis Vuitton.
