Issue 42
China aims to be the fastest-growing consumer market by 2020 with an estimated value of US$6.5 trillion, up from US$4.2 trillion as of 2015, a growth of 9% growth per year, DITP Director General Malee Choklumlerd said on January 8.
According to a report by the Office of Commercial Affairs in Guangzhou, China, the main driving forces behind the growth will be the rise of upper-middle class consumers, families, the elderly and a new generation of consumers using e-commerce.
“E-commerce will change the face of the China market as it has products that are lacking in department stores and general stores such as organic and imported food,” said Choklumlerd, “Online sales have grown eightfold in the last three years.”
.jpg){kind=logo}
