China’s 2021 online sales growth of physical goods is slowest since 2015

Growth of online Chinese consumer spending on physical goods, the bulk of e-commerce spending, was the slowest in 2021 since the data started being recorded in 2015, according to the latest government data.Online spending on physical goods including food, clothing and cosmetics grew just 12 per cent year on year in 2021, according to the data released on Monday by the National Bureau of Statistics.The slowdown in online consumer spending casts a shadow over business prospects in the world’s…

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