China’s e-commerce market is expected to triple in coming three years, with a turnover of $420 billion in 2015.
That’s 20 per cent more than the market expects of US e-commerce growth this year.
China’s 193 million web shoppers or online buyers is far more than any other country. It is expected that buyers will spend more than $1000 each in 2015.
China’s middle class is expected to spend almost $3.2 billion over the next 20 years. About 40 per cent of China’s population – the spread of broadband Internet subsidised by the government and internet-capable phones has expanded the pool of potential buyers of 513 million. Internet via high-speed cable costs about $10 per month compared to $30 a month in India and 27 dollars a month in Brazil.
According to McKinsey’s report in 2013, China is the second largest market for e-commerce in the world, with approximately US$190 billion in sales.
For 10 years, the rate of growth of e-commerce in China has increased by more than 100 per cent. E-commerce in China, moreover, has experienced strong campaign aspect of retail, making it one of the coolest e-tailing has been ordered with an increase of more than five to six per cent of total retail sales in 2012, while the United States was only five per cent.
