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Chinese online retail sales grow at fast pace in 2012
08
Feb '13
The online retail market in China grew at a very rapid pace in 2012, according to a report released by China E-Commerce Research Center (CECRC), an independent e-commerce research institution.
 
According to the 2012 China Online Retail Market Data Monitoring Report, the transaction volume of online retail market in China surged by 64.7 percent year-on-year to 1.32 trillion yuan last year.
 
Mo Daiqing from CECRC attributed the fast paced development of Chinese online retail market to increase in online sales promotions. Last year, online retailers created festivals like ‘Double 11’ on November 11 and ‘Double 12’ on December 12, which resulted in a strong growth in their sales revenue.
 
Secondly, there was a steady increase in the number of online customers during the year.
 
The online stores also had a competitive advantage over location-based stores in terms of prices.

Fibre2fashion News Desk - China

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