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Ecommerce

Cross-border ecommerce in China soared to USD 220 bln in 2017

Friday 3 August 2018 | 10:36 AM CET

67% of Chinese ecommerce consumers had a cross-border purchasing experience in 2017, up from 34% in 2016, according to a study by Westwin.

The study uncovers the fact that China’s cross-border buyers ordered more than once per month from overseas while the rising demand for overseas items led the country to import USD 220.3 billion of items abroad in 2017, driving up the transaction volume on cross-border platforms to a total of over USD 58.7 billion.

Moreover, the country’s cross-border ecommerce shoppers are wealthier than those who only purchase at home. 53% of cross-border consumers spent more than USD 1,468 and 15% percent of them spent over USD 2,936 over the past 12 months.

When it comes to settling the orders, Alibaba’s payment solution Alipay was the number one option, with 91% of surveyed respondents using it. Bank cards (68%) and WeChat Pay (64%) came after.

The “2018 China Cross-border Consumption Report” also examines the purchasing behaviors of overseas Chinese nationals. It uncovers that overseas spending by Chinese consumers, which include spending by outbound Chinese travelers and Chinese overseas residents, rose to USD 200 billion in 2017.

More: Link
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