E-Commerce in China

Now a days if your business has website you are selling to the whole world. That said you should be planing your e-commerce strategy into China.

In case your still doubting the size of the Chinese market…BCG forecasts there’ll be 280 million(the population of the US) affluent consumers in China with a disposable income of $20K to $1m, by 2020.¹ Thats a lot of people. The majority of Chinese live in 200+ secondary cities(with 1 million + people in each). However, many of these cities lack a large verity of foreign retail stores. So where do these people shop?…

Online.

Single’s Day, Nov 11, or ‘11,11’ 2012, saw China’s online retailers slash prices by up to 70%, drawing  shoppers in their droves.  On China’s TMall and Taobao alone, Chinese filled their carts with $3 billion of goods in 24 hours, eclipsing the $1.25 billion record US retailers did on Cyber Monday.²   And thats just the start of things.

We estimate that by 2020, as 15 to 20 percent annual growth rates (before inflation) continue, e-tailing could generate $420 billion to $650 billion in sales, and China’s market will equal that of the United States, Japan, the United Kingdom, Germany, and France combined today.³

When everything is said and done, deciding on how to move into the Chinese market really depends on a lot of factors, but certainly e-tailing in China is something that can not be overlooked.

 

 

¹  ³ http://www.mckinsey.com/Insights/Asia-Pacific/China%20e-tailing
² http://www.searchenginejournal.com/sell-online-in-china/51958/
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