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As the scale of the current Wuhan coronavirus outbreak is continually expanding, economists have found it difficult to predict the full impact on China's and the global economy. Some conservative estimates say the coronavirus outbreak may drive down China's economic growth by more than 0.5 percent.

As the focus has shifted to market mechanisms instead of cozy relationship-based arrangements, Japanese companies have had to compete on price and expand their client base.

As the first wave of the multi-phase cooperation campaign, the two industry players will be offering giveaways to shoppers between October 20 to November 30, encouraging them to pay with their digital wallets, instead of cash or credit cards.

As the world's largest e-commerce market, China saw its online retail sales grow 32.2 percent year-on-year in 2017 to reach 7.18 trillion yuan (.05 trillion).

As the top online retailer in the U.S., Amazon has become a key player in the COVID-19 outbreak that is driving a spike in online shopping as thousands of people avoid leaving their homes. The company is responsible for 38.7 percent of online sales in the U.S.,?according to eMarketer. Walmart is second with 5.3 percent.