Online flash discount sale to top $13b
By Li Wenfang (chinadaily.com.cn) Updated: 2014-07-30 17:23China's online flash discount sale is expected to top 78 billion yuan ($12.63 billion) this year, or 2.8 percent of all online sale, according to a report by iResearch Consulting Group.
Online flash discount sale of the country has been growing at a triple-digit rate every year since 2008 and hit 37.8 billion yuan last year.
It is forecast to reach 180 billion yuan in 2016.
The rapid growth is attributed to huge supply, fast developing online sale platforms, stronger purchasing power and consumers' desire for brands.
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