Sign up for The Paypers newsletter Follow The Paypers on LinkedIn Follow The Paypers on Twitter Follow The Paypers on Facebook Follow The Paypers on Google +
The Paypers, paypers, Insight in payments, News, Reports, Events
 advertisement
Ecommerce

Ecommerce in China valued to reach USD 1.8 tln in 2022

Wednesday 12 September 2018 | 02:39 PM CET

According to a recent Forrester report, the ecommerce value in China has been predicted to reach USD 1.8 tln in 2022.

Following the ‘Ecommerce in China: Trends and Outlook for The Largest ecommerce Market in The World’ report, the Chinese ecommerce market is esteemed to be doubled in worth than the US market and 10 times more valuable than the one in Japan. In 2022, the American ecommerce market will be worth USD 713 bln, while the Japanese market USD 159 bln.

As Alibaba and JD.com (Jingdong Mall) dominate the local market, summing more than 85% of the ecommerce market in China, new companies are pushing towards gaining the Chinese market. Among them, Pinduoduo and Xiaohongshu are encountered.

Another aspect worth mentioning is the mobile ecommerce in China which reaches 76% of all online shopping occurring on mobile devices. Alipay is used by 80% of Chinese shoppers, while 66% use Tencent’s WeChat Pay.

However, with a population of approximately 1.2 bln people, only 38% of the population in China has started purchasing online. To this, it is added the fact that many western merchants have not yet plugged into a very tempting opportunity for the Chinese people. Some of the reasons include the difficulty of transit, local laws and duties, or the language barrier.

More: Link
 advertisement
 advertisement
 advertisement
 advertisement