China is set to become the world’s largest online retail market, having enjoyed explosive growth in the last few years. The market is mainly powered by China’s 302m online shoppers, incidentally the world’s most active online purchasers.
Much of the Chinese ecommerce industry’s explosive growth is attributed to the unique landscape in itself. The market value of ecommerce is largely derived from the weak offline retail sector, and online retail has provided consumers with a much needed alternative way of shopping.
Econsultancy’s new State of Ecommerce in China report, published in partnership with hybris, an SAP company, looks in more detail at this market.
To focus on the potential the Chinese ecommerce industry has, I’ve decided to share a few snippets from the report. Not to forget it’s Singles Day, the largest online shopping day in the world. Enough said.