Retail social commerce sales in China will reach US$242.41bil this year and the number of social buyers is expected to be 357 million, according to eMarketer. During a livestream on Thursday Ding Lei, founder and CEO of Chinese gaming giant NetEase, generated 72mil yuan (US$10.2mil) in sales of lifestyle products.— SCMP
Social commerce sales in China will make up 11.6% of total retail e-commerce sales in 2020 with nearly one-third of mainland Chinese becoming social buyers this year despite weaker consumption sentiment and slower economic growth amid the coronavirus pandemic.
Retail social commerce sales in the country will grow to US$242.41bil (RM1.03tril) this year and the number of social buyers is expected to reach 357.2 million, according to a report published on Thursday by research firm eMarketer.
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