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China online shopping sales soar

Sep 18, 2015

Online Shopping Fun

China online shopping sales grew a staggering 48.7 per cent during the first six months of this year, according to data from the China e-Business Research Center (CECRC).

Online retail sales hit 1.6 trillion yuan (US$250 billion) and accounted for 11.4 per cent of total retail sales in China in the period.

The number of online shoppers rose 19.1 per cent to 417 million, said the Hangzhou-based eCommerce trend tracker.

Cross-border eCommerce has become a new driver of retail sales as online retailers connect domestic consumers with an increasing number of overseas brands, according to CECRC analyst Mo Daiqing

Alibaba’s online marketplace Tmall continues to dominate China’s online business-to-consumer market, with 57.7 per cent of the market. Its rival JD.com comes in second, at 25.1 per cent, followed by a distant third by Suning.com, at 3.4 per cent.

CECRC also said that more transactions are being made on mobile Internet as online retailers move to encourage consumers to shop with their mobile apps on smartphones and tablets.

Robust online sales also boosted the revenue of China’s courier services by 33.2 per cent during the same period, to 120 billion yuan. CECRC estimates revenue will top 290 billion yuan for the whole year.

China’s rural areas, Mo said, have emerged as the next source of growth for retail sales and online retailers are seeking deeper integration with offline retailers, reported Chinese press agency Xinhua.

Source: insideretail.asia

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