report：instant retail market to top 1 trln yuan by 2026

Many retail outlets such as convenience stores and supermarkets have rolled out store-to-doorstep online shopping and delivery services to cater to consumers living or working nearby.

E-commerce platforms have also jumped on the bandwagon by leveraging their big-data-driven consumer insight and extensive delivery network.

Chinas instant retail market has been growing at a st clip in recent years, and is likely to exceed 1 trillion yuan (about – billion U.S. dollars) by 2026, a report estimated.

Photo/Shetuwang-500681602

The emerging retail business, which features st delivery, usually within an hour of online to offline orders, saw its market scale expand by about 81 percent in the past five years, according to the report released by the China Chain-Store Franchise Association.

The report said that the instant retail market enjoys a rosy future, as its combination of digitalization and st delivery will help traditional retailers expand the scale of their consumer community.

Chinese online food delivery giant Meituan introduced instant retail services in 2022 and saw their sales value account for 12 percent of its food delivery business in 2021. The average daily order volume for its instant retail services reached 4.3 million in the second quarter of 2022.