China Dominates Retail Market in 2014

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In 2013, China was a leading retailer among all other countries, including the United States, in the purchasing of goods. For 2014, it seems that China will once again be taking this honor. In fact, according to the National Bureau of Statistics, China sold 23.5 trillion yuan, which is roughly $3.78 million USD of goods. Thus, increasing their sales by 12% from 2013.

Chart courtesy of http://www.chinaspeakersagency.com/2014/china-passes-us-online-retail/

Chart: Source

The fastest growing industries for China seems to be their mobile networking and e-commerce. The sales for 2015 are estimated to be even higher for the Chinese market, as the online market becomes more dominant and considerably larger.

The data used to sample the market was collected from those retailers who earned above 5 million yuan per year, and a small sampling of those retailers who earn below this median.

About Author

Social Brand Watch (SBW) is a collection of experts in digital, mobile and social media in China. SBW was created to complement Resonance's China Social Branding Report, a bi-weekly report focusing on modern marketing methods of the world's top brands in China.

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