China Offers Glimpse Into Post-Coronavirus Retail Industry, Bain Report Says

The post-coronavirus retail industry will draw heavily from the online shopping trends already seen in China, analysts from consulting firm Bain said in a report released Thursday. Asia Pacific generates about three quarters of global retail growth, and about two thirds of online growth, according to the Bain report, titled “The Future of Retail in Asia-Pacific: How to Thrive at High Speed.” Riding that growth are three Chinese retailers — Alibaba, JD.com and Pinduoduo — which together with Japan’s Seven & I now rank among the top 10 retailers worldwide, according to Bain analysis. The firm noted that about a decade ago, only one or two Asia Pacific-based retailers made the top 10 list. “What’s happening in China today is going to happen in other markets to a lesser or greater degree depending on the market,” Kanaiya Parekh, expert partner, Hong Kong, at Bain, said in a phone interview. “People need to be looking at China, especially with regards to the future of retail.” Read more at CNBC.