China's Retail Sales on Pace to Surpass U.S. This Year

China's Retail Sales on Pace to Surpass U.S. This Year

(Bloomberg) -- China will edge out the U.S as the biggest retail market in the world this year, according to a projection by eMarketer. E-commerce sales are a big part of China’s growth -- more than 35 percent of the country’s retail sales in 2019 are estimated to be online, the highest rate in the world. In the U.S., web sales are likely to account for almost 11 percent of retail spending this year, the researcher said.

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