It has been estimated that by 2020, China’s market will equal that of the United States, Japan, the United Kingdom, Germany, and France combined today.
145 million online shoppers in China spent over 850 billion U.S.
Almost overnight China has become the world’s second-largest e-commerce market. Thanks to China’s rapid internet development and the Chinese government’s heavily subsidised roll out of high-speed internet access, China’s internet penetration has now approached rich-country levels, and is now home to the world’s largest number of internet users.
In the first half of 2013 145 million online shoppers in China spent over 850 billion U.S. and reports show that these numbers are set to sky rocket, for every year for the foreseeable future, with another 30 million Chinese who will go online to shop for the first time.
The growing role of online shopping is believed to be related to limited shopping choices in small towns in much of the country, a quarter of Chinese shoppers now seek products online because they are simply not available at physical stores.
cost of shipping parcels is now a mere one-sixth of what firms in most western countries
This along with investment into the development of a reliable and cheap method of shipping packages, developed by the e-commerce industry has ensured that the cost of shipping parcels is now a mere one-sixth of what firms in most western countries have to pay, which has ensured that the e-commerce revolution is china will continue to grow.
