China's chain businesses see steady online sales growth

0 Comment(s)Print E-mail Xinhua, June 16, 2022
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Online sales of China's chain stores recorded stable growth in 2021, data from the China Chain Store and Franchise Association showed.

The annual online sales revenue of the top 100 chain sellers in China totaled 470 billion yuan (69.61 billion U.S. dollars) last year, according to a report released by the association.

These firms' online sales income accounted for 8.6 percent on average of their total sales revenue in 2021, up 1.3 percentage points over one year earlier.

"Technological revolution brings great changes to both the production and consumption ends of the retail sector," said Pei Liang, head of the association, adding that emerging business forms are accelerating the integration of online and offline sales.

China had become the world's largest online retail market for nine consecutive years in 2021, with online consumer goods retail hitting 10.8 trillion yuan, data from the Ministry of Commerce showed.

Last year, 68 out of China's top 100 chain firms reported year-on-year sales growth, 21 more than in 2020, the report also said.

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