China to overtake US online

[kewell333]

Global consultancy Bain & Company predicts China's e-commerce market will reach annual online sales of 1.5 trillion yuan (US$238.18 billion) by next year, making the country the world's top e-commerce industry.

Online shoppers are expected to jump to 60 per cent with spending to increase to 40 per cent. When that happens, online sales will make up seven per cent of the total retail sales in China by next year.

According to the study conducted by Bain, apparel, electronics and groceries are the top grossing categories online.

The latest entrant to China's online market is supermarket giant Walmart which bought a controlling stake in Chinese shopping website Yihaodian.com.

Online shopping site Taobao.com, which facilitates 80 per cent of consumer-to-consumer online retail and 20 per cent of business-to-consumer online retail, is still one of the leading online players despite business-to-consumer (B2C) players tapping into China's online market.

"An explosive B2C growth is under way, fuelling the expansion of China's entire e-commerce industry," said Serge Hoffmann, a partner at Bain. "Many big traditional retail names are gearing up to seize the opportunity, including Walmart."


China to overtake US online | IR News | Inside Retail Asia

Online retail giant Taobao sales exceed 700 billion yuan ($ 111 billion ) in 2011.

 

[WS-10 Engine]

when china improves its logistics and storage infrastructure, our online market will grow even faster.

another record for china.
another feather in our cap.

 

[Agent Vinod]

Good going china. They brilliantly manage their supply chain.

 

[FairAndUnbiased]

good development. it would be better for the economy.

stores take alot of energy and need oil fueled trucks to deliver goods. online shopping can be delivered by electric bike in the same city directly to the buyer with much lower inventory costs.

 

[protest]

Excellent. Congrats.

 

[kewell333]

Online retail giant Taobao sales exceed 700 billion yuan ($ 111 billion ) in 2011, and it will exceed Wal-Mart's total sales sooner or later.

 

[shuttler]

now who said we do not have enough internal consumption?
while its doing good for some buz like courier service, web designers this is a looming nightmare for real estate developers

 

[killerx]

woo its good but the alot of man power you know what imean due to wich result in large always

 

[Audio]

now who said we do not have enough internal consumption?
while its doing good for some buz like courier service, web designers this is a looming nightmare for real estate developers

I was under the impression there is no shortage of malls or real estate in China.

congrats on a more serious note.

 

[kawaraj]

we can see world economy is shifting to E direction.

taobao can so easily overtake walwart in such a short notice, who's next? anyone up here want to dig a hole in e-commerce goldmine of next stage? any thoughts?

 

[ChinaToday]

Dont know why people like to shop online i personally dont

 

[JayAtl]

Both India and China are natural fit's to take over in online numbers simply based on their domestic population numbers.

 

[longyi]

Dont know why people like to shop online i personally dont

Onlline shopping free up so much of your personal time and cut the aggravations and cost of traveling to different locations and back home. My best experience is buying books from Amazon.com. I simply type in the title and buy it in minutes, hassle free. This industry is definitely the future if it's not here already in the US.

On the other hand, not for me though, it takes the fun out of shopping for people like my sisters.

 

[scholseys]

i buy most of my things online, even most of my clothes, i hate the mall even though i live 2 minutes away from one of the biggest malls in the country.

 

[Holmes]

good going