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.
