These are the findings of The China Online Retail Forecast 2014 – 2019, which estimates that spending via mobile will grow at 44.2% compound annual growth rate (CAGR), twice as fast as online sales, which are expected to increase at 19.9% CAGR. Mobile sales and online retailers’ expansion into new product categories will be the main drivers for ecommerce growth in China by 2020.
Key findings from the report include: • Chinese consumers are shifting to mobile for online shopping. The frequency with which online consumers in metropolitan China shop via their mobiles is increasing rapidly, while those in lower-tier cities use smartphones as their primary means of network access and for online shopping.• Tmall and JD.com will continue to dominate China’s ecommerce market, with market shares of 57% and 21%, respectively. • More categories of products traditionally sold offline, such as pharmaceuticals and furniture, are now made available online. The growing number of middle-class and affluent Chinese consumers adds to online demand for a wide variety of high-end products, such as fresh food, imported goods and automobiles. The convenience, variety and fast delivery associated with online purchase will boost ecommerce in these new categories.
Check out our Cross-border Ecommerce Research section here for more info on specific ecommerce facts and figures, preferred payment methods, risk and fraud, as well as ecommerce legislation and regulation in China.
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