China to surpass U.S. to become the biggest retail market on the globe in 2019

Source: Marketwatch

China will surpass the U.S. to become the top retail market in the world, according to eMarketer data. Experts say China's market will exceed the U.S. by $100 billion in 2019, with sales growing 7.5% to $5.636 trillion. U.S. retail sales are expected to grow 3.3% to $5.529 trillion. Growth rates are decelerating in both countries. China has the highest rate of e-commerce sales in the world at 35.3%. Alibaba Group Holding Ltd. BABA, +1.12% is leading the way with 53.3% share of sales, though its share has been on the decline. In 2019, Chinese e-commerce is expected to reach $1.989 trillion, and the country will have 55.8% of digital retail sales around the world. In the U.S., e-commerce accounts for 10.9% of retail sales. By 2022, eMarketer says total retail sales will reach $6.030 trillion in the U.S. and $6.757 trillion in China. The SPDR S&P Retail ETF XRT, -2.45% has lost 10.4% over the last 12 months, the Amplify Online Retail ETF IBUY, -2.63% is down 2.7%, and the S&P 500 index SPX, -1.42% has lost 7.3% for the period.

Read more: https://www.marketwatch.com/story/china-to-surpass-us-to-become-the-biggest-retail-market-on-the-globe-in-2019-2019-01-23