There are already over 800 million Internet users in China. The Chinese rely on their smartphones a lot in their daily lives, spend a lot of time on social media, and enjoy online shopping. As a result, more and more Internet celebrities from different spheres begin to appear, drawing in plenty of fans who rely on their opinions. No wonder Chinese influencers are starting to play an important role in advertising products from multiple brands. In 2018, the Chinese influencers’ net worth reached as much as USD 16 billion.Continue reading
The dynamic development and openness to cross-border sales have made Chinese e-commerce dominate. Europeans are buying on a large scale from Chinese e-commerce platforms, and the Chinese are increasingly willing to open up to cross-border shopping. Selling on Tmall, the largest e-commerce platform in China, can be a hit for those interested in exporting to China. By 2018, more than 14,500 international brands from 63 countries were selling their products on Tmall Global. 80% of them were introduced to the Chinese market for the first time.Continue reading
China is the largest e-commerce market in the world. The Chinese shop online much more often than the rest of the world. Among the products that citizens of China buy online are clothes, cosmetics, electronics, and even food (more than 50% of customers). At the moment, the Chinese e-commerce market is worth over 1 billion dollars and is continuously growing. The middle class in China is growing, and so is consumption. Online shopping became very convenient, particularly when using extremely popular mobile payments. New trends and interest in foreign and luxury goods also contribute to the rapid development of e-commerce in China. Domestic products cannot meet these needs. E-commerce gives foreign suppliers an opportunity to sell their product and speed up procedures, benefit from favorable tax policies and, what’s most important, they don’t have to license their operations.
We present to you an interesting infographic „10 facts about e-commerce in China”.
Chinese e-commerce market consolidation
We have recently described the rise of Chinese B2C e-commerce – in this article, we will sketch the outline of the current market situation, especially in the light of the recent news about Tencent acquiring 15% stake in JD.com, which was revealed today.
Here we introduce another interesting infographics, which presents information about the e-commerce in China. Apart from up-to-date statistics, it also contains some forecasts, giving us a glimpse into the further development. The Chinese consumers review products in online shops quite frequently (more frequently than Americans), the shipment fee is six time lower than in the U.S. The most popular method of payment is Alipay (47% transactions), the second is Tenpay (21%). As far the most popular internet shops are concerned, Tmall has 40% market share, followed by 360buy.com (now jd.com) and Suning.com.