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Chinese B2C E-Commerce driven by Luxury Goods and Social Commerce
Chinese B2C E-Commerce expected to grow by approximately 30 Percent annually over the next Years
B2C E-Commerce is gaining more and more ground in China. According to forecasts, it is expected to grow by more than 30 percent annually between 2010 and 2016. Overall, fashion, shoes and bags, as well as computers and household appliances are among the most popular product categories online. B2C E-Commerce with luxury goods is one of the leading trends. In recent years, this segment has grown more strongly than traditional B2C E-Commerce.
A growing number of Chinese residents use social networks to purchase products online. Social Commerce is expected to become even more significant in China than in the USA. M-Commerce is also gaining in importance. Between 2011 and 2012, M-Commerce grew approximately fivefold and now accounts for more than four percent of total B2C E-Commerce sales.
Amazon is only in fifth Place among Online Retailers in China
Leading Chinese online retailers include Tmall, 360buy, Tencent and Suning.com. Amazon is only in fifth place in China, with a market share of less than three percent. In 2011, Alibaba Group's Tmall.com generated more than 100 billion CNY (11 billion EUR) in revenue, increasing its revenue by a three-digit growth rate. Some foreign companies also try to gain a foothold in the Chinese B2C ECommerce market. In 2012, US company Toys'R'Us opened its first online shop in China. However, online retailers face problems with the delivery of products ordered online. Consequently, retailers such as VANCL and 360buy are currently developing their own delivery solutions as shown in yStats.com's "China B2C E-Commerce Report 2013".
B2C E-Commerce and M-Commerce in China are expected to continue growing by double- to tripledigit percentage figures. However, the share of Internet users who also make purchases online is still much lower than in other countries of the Asia-Pacific region such as Japan and Australia.
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