China’s macro economy has showed sustained signs of weakness throughout 2015, with the real economy struggling to perform a turnaround. A cooling housing market, comparatively weak investment growth and slumping exports have weighed on the countrys fortunes, despite a series of fiscal and monetary policy easing measures by the central government and sustained intervention in the stock market, according to the “China Ecommerce: 2015 Market Update,” report issued by market research company eMarketer.
Retail ecommerce sales, excluding travel and events tickets, will rise 42.1% in 2015 to USD 672.01 billion, easily making China the worlds largest ecommerce market. In fact, China will account for just over 40% of the worlds retail ecommerce sales in 2015.
Mobile will account for about half of retail ecommerce sales in China in 2015, according to eMarketer estimates, which compares with 22% in the US and 33% in the UK, and less than a fifth in other developed economies, including France, Canada and the Netherlands, according to data from RetailMeNots June 2015 Mobile Retailing in Europe and North America report. Chinas m-commerce sector is more than four times bigger by sales value than that of the US.
Mcommerce has surged alongside mobile internet adoption in China. MasterCard Worldwides 2014 Mobile Shopping Survey: Asia-Pacific Edition suggests that mobile phone internet penetration has reached a saturation point among Chinas internet users, with some 98.6% having mobile web access in 2014, the second-highest rate in the region. eMarketer estimates that slightly under half of Chinas overall population will access the internet in 2015.
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