Business / Economy

Major Chinese retailers' sales fall as online business grows

By Yan Dongjie ( Updated: 2016-01-19 17:38

Major Chinese retailers' sales fall as online business grows

Shoppers select dried fruits at a super market in Hangzhou, Zhejiang province, Jan 19, 2016. [Photo/IC]

One hundred major retail companies in China experienced a 0.1 percent decline in sales in 2015 compared to the previous year, marking the first negative growth since 2012, according to the China National Business Information Center.

Online shopping totaled 3.8 trillion yuan (578 billon dollars), an increase of 37.2 percent compared to 2014, according to a report published by iResearch.

Zhao Ping, an expert from the Advisory Committee of E-commerce of the Ministry of Commerce, said e-commerce companies are cooperating with the few competitive traditional retailers, grabbing more market share, which has put more pressure on other retail companies.

As mobile Internet becomes increasingly popular, customers of traditional retailers such as the elderly have also begun to accept e-commerce platforms.

Bi Guocai, president of Beijing Daoxiangcun Co. Ltd., said 85 outlets have worked with Baidu Takeaway and JD Delivery, the online shopping platform, and seen a 35 percent increase in the sales over e-commerce.

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