E-commerce platform Alibaba delivered triple-digit growth in revenue.
Online retail sales in China grew about 36% YoY in July 2019 as pure e-commerce and traditional retailers continue to develop new online sale models, according to Fitch Ratings.
Better offline-online integration, improving logistics, rising internet-reliant population, continued urbanisation and higher e-commerce penetration can provide the sector with further growth opportunities in the medium term.
In addition, consumer goods companies have been noted to develop new online sales models. Dairy producers Yili and Mengniu were reportedly engaging with new online sales model, which translated to revenue growth in 2018.
"The line between pure e-commerce and traditional retailers is blurring as both invest in new sales models," Fitch Ratings wrote.
In particular, e-commerce platform Alibaba delivered about triple-digit growth in revenue in the fiscal first quarter ended June 2019.
However, longer-term growth outlook is seen as uncertain due to the ageing population.
As primary couriers of social e-tailing, China's top-five express delivery companies by volume recorded a 43% YoY growth in their aggregate delivery volumes in 1H19, from 38% in 2018.
Do you know more about this story? Contact us anonymously through this link.