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Chinese B2C online market to grow 30% by 2016
03 Oct '13
1 min read
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. 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.
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. Leading Chinese online retailers include Tmall, 360buy, Tencent and Suning.
The total online payment transaction value in China demonstrated strong quarter-on-quarter growth in 2011-2012.Third-party online payments, which are used by around a third of online shoppers in China, were especially on the rise. Also, Alipay launched a mobile wallet application in China, offering online-to-offline payments.
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