China Ecommerce_November 2024 online sales_ 4Q24 QTD growth slower than expected
China Securities·2024-12-19 16:37
更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 China Ecommerce According to the National Bureau of Statistics (NBS), China online retail sales in 11M24 increased 7.4% YoY to Rmb14,031bn, slower than the 8.8% YoY increase as of October. On a monthly basis, online retail sales in November declined 2% YoY vs. 10% YoY growth in October, reflecting the earlier Singles Day promotion this year. We believe the better way to read the numbers is to look at accumulated online retail sales growth in OctoberNovember, which normalizes the ...