by X Social Group - HO, Michele
2020 is a year for China’s eCommerce to shine, even though its slight shrink by 4%, surpassing the usual eCommerce giant US to become the largest retail market in the world, amounting to RMB35.043 trillion in sales (eMarketer, Jun 2020). Consumers’ spending increases accordingly at RMB14.440 trillion on retail eCommerce, signaling a 16% YOY increase compared to 2019.
Consumers are expected to spend RMB 1.675 trillion through social commerce channels, up for almost RMB 0.4 trillion from 2019. Mini Programs within the WeChat ecosystem is believed to be the main business driver.