Online sales, driven by social media applications such as TikTok and Instagram, would continue to undermine stores, with fast improving digital payment systems also adding to the pressure and driving job losses. Photo: EPA

Trade war, Hong Kong protests forecast to hit global retail sales growth in 2020, report shows

  • Global sales growth by volume will decelerate to 2.2 per cent next year, compared with 2.5 per cent in 2019, according to The Economist Intelligence Unit
  • Regional growth will be fastest in Asia, but US-China trade war and increased online competition are heaping pressure on the sector
Topic |   China economy
Online sales, driven by social media applications such as TikTok and Instagram, would continue to undermine stores, with fast improving digital payment systems also adding to the pressure and driving job losses. Photo: EPA
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