Alibaba subsidiary Tmall.com has become China's largest retailer after taking first spot away from Suning Appliance, China's largest traditional retailer with stores in more than 700 cities.
First for the first time
Tmall had a 2013 turnover of 347 billion Chinese Yuan (41 billion euro) and that gives it the top spot in the list of the 100 biggest retailers in China. It is joined by another 8 pure online parties, one more than last year, and together they have a 571.3 billion Chinese Yuan (some 68 billion euro) turnover. That represents 20.7 % of the total turnover of the 100 companies, 6.2 % more than they managed in 2012.
On average, online retailers grew their turnover 76.2 % in 2013, a huge drop compared to the average of 134.1 % the year before, but still miles ahead of traditional retailers, which managed an average growth of 10.6 %.