By combining information from online and offline consumer behavior, businesses overcome the limits of space and time. According to eMarketer, the Chinese e-commerce market is the largest in the world with sales of over $2 trillion. So, this sums up our 12 trends in 2020 in the China e commerce market. Beginning an e-commerce business in China requires extensive planning and market research. Tmall is the third most visited website in the world and it is the top cross-border eCommerce marketplace in China. Despite a desire for bargains, UK shoppers spend a Big data analyzes massive volumes of information to apply data-oriented marketing in China. Together with live-streaming, short videos and short video apps are conquering the Chinese market. This hot new trend reached a volume of more than 300 billion USD in 2019. All have apps and optimized mobile websites where loading speed, user interface, display quality, and payment methods are perfected with the smartphone user in mind. Therefore, set up your own website for the Chinese market and implement an e commerce solution! Click here to read more about, Jingdong (JD) is a B2C marketplace with in-house delivery and logistics. Financial technology and innovation which aims to compete with traditional methods to deliver financial services are on the rise. Insights into the growth of Chinese eCommerce. Retail sales in China will grow 3.5% to $5.291 trillion this year. There are some big names everyone around the world is familiar with when it comes to the top eCommerce websites in China. They always check online reviews before buying a product so why not have them on your side? Livestreaming is already huge in China and it’s not uncommon for Chinese influencers to endorse a product during their livestream. China e-commerce logistics market is projected to exhibit a considerable CAGR of 18.8% during the forecast period (2019-2025). We’ll share our industry insights and develop together Chinese marketing and ecommerce strategies for your business. The reports show that the expected China eCommerce market growth for 2020 is at 20.1%. Tmall relies on its sellers to fulfill the supply chain. Therefore, the demand of Chinese consumers for household products and luxury goods will only increase. Online platforms allow the average consumer to compare prices and most of the time find a better deal than stores on the street offer. With Tenba Group’s FREE consultation you can get to know us better and The Market Size of E-commerce in China We compared the Chinese and American E-commerce markets using statistics collected from official sources such as e-Marketers . This trend of selling to lower Tier cities and areas in China we already observe in the Chinese social media landscape. According to the projections, by 2020 e-commerce market in China will be bigger than American, British, Japanese, German and French e-commerce markets combined. China's grocery B2C e-commerce transactions totaled 544.94 billion yuan in 2019 and are estimated to exceed 1.38 trillion yuan by 2022. More and more companies are targeting lower-tier cities as a part of their expansion strategy and adopting new initiatives to keep up with the current eCommerce trends in China. In comparison, the United States’ share of the market is 24%, down from 35% in 2005, as this graph illustrates. Chinese consumers rely on apps like Alipay, WeChat Pay, and UnionPay for online shopping and payments at physical stores alike. About 10 years ago China accounted for less than one percent of the global e-commerce market; today its share is 42%. After the COVID-19 outbreak, it has become even more common with the action launched by the Payment & Clearing Association of China (PCAC) advising people to use online payment. JD.com By setting up exclusive clubs or groups like WeChat groups, brands can communicate a certain lifestyle and the corresponding products. As per the report, there were more than 900 million online shoppers in 2019. It is no surprise that China is the land of smartphones. When It Comes to The China Ecommerce Market, Youngsters Rule. Globally, China accounts for more than half (55.8%) of all online retail sales, with that figure expected to rise to 63% by 2022. GlobalData says that the e-commerce market in China to grow at a compound annual growth rate (CAGR) of 13.3% from an estimated $1.5 trillion in 2019 to $2.6 trillion by 2023. Tmall has a market share of 50%-60% which puts Alibaba’s market value at $480.8 billion. We present the main highlights of the Chinese e commerce landscape in 2020. There could be many challenges awaiting businesses aiming to enter the Chinese market. 21 GMV of China's import e-commerce market 2013-2021 22 Popularity of cross-border e-commerce platforms in China 2017 23 Share of products bought on cross-border e-commerce sites in China 2017-2018, by type 24 Share of online shoppers who purchase domestically and cross-border China 2018 E-commerce consumer demographics This is why we are looking at the current trends in this week’s Tenba Group article. A major development in China E-commerce has been the shift from C2C to a B2C dominated model (Q1 2016 – Q3 2017) as this market has evolved. Let’s take a look at the most important China eCommerce market trends for this year. As the pressure on China’s policy-makers is increasing, decision-makers are opening the general trade for cruelty-free products bit by bit. It is estimated that e-commerce in China will be worth US$540 billion by 2015, and by 2020 worth more than e-commerce in the U.S., the UK, Japan, Germany and France combined. Not to mention that the consumer gets to access a wider range of suppliers than they would be having a shopping spree at their local venue since the majority of the suppliers ship anywhere in a competitive period of time. As China goes, so goes the global ecommerce market. That is plus 27% year over year and a quarter of China’s total retail sales volume. The world’s largest e-commerce market is the China e-commerce market. China’s pet care market continues to expand rapidly. You are now familiar with the key players in this segment and the general e commerce environment in China. This last trend brings all the previous ones together, literally. China’s social e-commerce market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2019-2023). Western shoppers may think that the products could have poor quality. Tmall and JD are the biggest domestic e-commerce platforms in China covering almost 75% total China e-commerce market share. This report features our latest forecasts for retail sales, retail ecommerce, social commerce, mcommerce, digital buyers and the top ecommerce sites in China. In addition, close integration of consumer payments is creating a best practice example for the whole world. 23% of mobile payments are made through mobile payment systems, e.g. As China expands its worldwide trade through the belt and road initiative (BRI) and other development initiatives, DCEP has the potential to create significant financial autonomy and less exposure to the US. Not only animal rights activists will be happy to hear that China now moves away from these mandatory tests. The government will likely distribute the new currency through traditional banks, making it fully centralized and exactly like traditional paper money. General overview Further information regarding this statistic can be found on page 36. Faster, faster, and faster delivery. Of course, the first platform on the list is owned by Alibaba. Despite coming into the scene 10 years later, WeChat Pay managed to own a competitive share in the market - thanks to having its own system built in the most popular social media platform in China, WeChat -as if you couldn’t tell-. MotaWord is the fastest online translation platform that offers Chinese translation services and Chinese localization services at the same time. This will equate to almost 20% of total e-commerce sales in the country this year ($832 billion as estimated by Statista). In fact, Chinese consumers are going from cash to cashless at a more rapid pace than many western countries. The Market Size of E-commerce in China We compared the Chinese and American E-commerce markets using statistics collected from official sources such as e-Marketers. Foreign brands can cooperate with these platforms depending on their business model to sell their services. Recommerce or reverse commerce will come to the fore. Moreover, it is expected to reach $22 billion by 2022. KUBRA CAMIR, The fastest growing ecommerce market in the world is China. China is home to the world’s largest market for automobile sales. The Government of China … End consumers are hungry for advice and recommendations from real consumers they trust. However, unlike Bitcoin and related currencies, DCEP is government-sanctioned. The “now” consumer follows trends and has unplanned interactions with brand and retail experiences. As such, China’s e commerce sector is more than three times the size of the US market, which ranks second. And JD.com formed a strategic partnership with Tencent (WeChat) to take on Alibaba. GlobalData says that the e-commerce market in China to grow at a compound annual growth rate (CAGR) of 13.3% from an estimated $1.5 trillion in 2019 to $2.6 trillion by 2023. China is an online shopping behemoth, and its e-commerce payment market is worth trillion-dollars. 1 ETF To Gain By Investing.com (Tezcan Gecgil/Investing.com ) Stock Markets Nov 12, 2020 04:37AM ET Now, let’s get to it and look at this year’s biggest trends in the Chinese e commerce environment: This booming sector will supposedly reach a volume of 164 billion USD in 2020, almost double compared to the previous year. From a numbers perspective, this means that 85.1% of China ecommerce users are aged between 16 and 35 years old. More about the CBEC trade in China here. Analysis on the Chinese B2C E-Commerce Market, 2019-2023 - Over Half of the World's Online Retail Purchases Take Place in China - ResearchAndMarkets.com How much will retail sales in China grow in 2019? China Paradigm interviewed Daphne Tuijn, a China e-commerce market specialist and co-founder and CEO of both WebShopInChina and Chaoly.She shares with us precious tips to better understand how to sell online through China e-commerce platforms and how to leverage data by using growth hacking in China. Vertical eCommerce websites will be more popular among consumers as they create a community for like-minded consumers to interact. Group buying will gain more traction, especially in lower-tier areas. In 2017, the buyer penetration rate has reached almost 45%. Chinese consumers show a strong preference for omnichannel retail services where they can find the benefits of physical stores combined with the advantages of online shopping platforms, and it seems to be getting more popular with the increasing trust in eCommerce platforms and online transactions. China holds the potential to become the biggest market for virtually everything, and e-commerce is no exception. China's grocery B2C e-commerce transactions totaled 544.94 billion yuan in 2019 and are estimated to exceed 1.38 trillion yuan by 2022. A Chinese marketing agency can take care of this for you. we are excited to hear about your project! KOCs also act as influencers but are more authentic. Tmall is leading the e commerce landscape, apps like Alipay, WeChat Pay, and UnionPay for online shopping, already observe in the Chinese social media landscape, China is now finalizing the preparation for the release of its DCEP, expands its worldwide trade through the belt and road initiative (BRI), group buying is expected to grow as Pinduoduo, UK-based skincare brand Bulldog is set to be the first cruelty-free cosmetics brand, Tencent collects and classifies information, This third most visited website in the world is a brand-driven B2C marketplace. With the latest COVID-19 outbreak, more and more people have become comfortable with making their purchases online. Digital commerce players continue to innovate and recalibrate. China market trends: NMN, e-commerce, livestreaming boosting health foods trade in 2020. The Double 11 event on 11 November 2017 – also known as Singles’ Day, when single people in China celebrate, and which has become a popular shopping holiday – was a clear example of how China’s consumption-led economy is evolving digitally. Nǐ hǎo vegan brands! This means that consumers relate more to regular consumers like them that create authentic and trustable content. The list of the biggest eCommerce companies in China continues with Suning.com for electronics, Kaola for high-quality “Western” products, and Xiao Hong Shu (Little Red Book) for young people’s lifestyle shopping. China’s e-commerce market in numbers: statistics and forecast. The four companies have been profiled in the report providing their business overview, financial overview and business strategies. Tmall Global, the top CBEC marketplace in China. This business giant offers a number of popular e-commerce platforms for each customer to choose from. Relationship-based marketing is on the rise! Since 2012, the growth in terms of volume, network size and products available in the country has been accelerating year after year.. … While there are third-party vendors who deliver their products to consumers, JD.com also sells items directly to consumers. China Is World Leader in E-commerce, New Retail Innovation: eMarketer Jing Wang | July 30, 2019 China’s $1.94 trillion e-commerce is the largest in the world, and more than three times that of the number two U.S. market, according to a newly released eMarketer report. China eCommerce data shows that there has been a boost in the number of companies that switched to an online business model to survive the hard times. After all, if you’re not sure where to start or you want to focus on other aspects of your business, simply let Tenba Group, your trusted China online marketing company, help you with this. The market is driven largely by millennials who love fast fashion and want to find the best price possible. Consumers are interested in foreign brands more than ever before. MotaWord can also help you with your Chinese website localization needs to get ahead in the China eCommerce market. China offers significant growth opportunities for the market coupled with the trend towards the e-commerce industry and significant demand for smart packaging in the country. You can improve your e-commerce in China and make new marketing strategies by paying attention to the feedback that customers give you, based on their purchasing decisions and reviews. Animal testing has been mandatory in China but the policy-makers are moving away from these regulations as the number of animal right activists increase. First introduced as a concept 5 years ago, China is now finalizing the preparation for the release of its DCEP (Digital Currency/Electronic Payments). The major players dominating the social e-commerce market in China are Yunji Inc., Pinduoduo Inc., Xiaohongshu and Alibaba Group Holding Limited (Taobao and Tmall). The YoY growth rate of the B2C online shopping market was 43.7% in Q3 2017 whilst that of C2C was only 13.5%. The advancement in online payment methods has paved the way for eCommerce, and vice versa. 2. Kaola will become a part of Tmall, stealing market share from competitor JD.com. Cryptocurrency miners and users are facing severe regulation in the Middle Kingdom. GIRK CAKMAK, With an expected 33 percent of the global market in 2015 and over 37 percent in 2018, the Asia Pacific region is becoming the leader of the e-commerce industry. KAAN DEMIREL, Professional Spanish Translation Services, Professional Medical Translation Services, Professional Document Translation Services, Professional Translation Service by Human Translators, Translating for Patients and Healthcare Professionals. Implications for brands: China’s lucrative cross-border e-commerce market is projected to reach $164 billion in 2020, according to Statista. Western Europe owns three of the top six ecommerce markets, led by the UK ($141.93 billion), Germany ($81.85 billion) and France ($69.43 billion), but as more mature markets, each is growing at year-over-year rates well below the global ecommerce … 6 Gross merchandise volume of China's e-commerce market from 2010 to The reports show that the expected China eCommerce market growth for 2020 is at 20.1%. China is an online shopping behemoth, and its e-commerce payment market is worth trillion-dollars. The increased use of mobile devices and social media created social shopping also known as social e commerce. China’s eCommerce market size is estimated to be growing at an annual rate of 22.5% over the past few years which makes a total market size of $1.8 trillion. High-quality luxury goods from abroad are very popular. Fintech companies in competition with institutions delivering traditional financial services are having a good run. 74.8% of the market is dominated by mainstream e-commerce platforms such as Taobao, JD, Pinduoduo while the grocery vertical e-commerce platforms have a … WeChat Pay has more than 900 million monthly active users in the pool of 1.1 billion monthly active users of WeChat while Alipay boasts more than 1.2 billion active users every month. Right now JD.com follows Alibaba with a market share of 15%-20% in the China eCommerce scene. This trend hasn’t really arrived outside of China yet. Over the years, the Chinese e-commerce market has changed a lot, revolutionizing the traditional system for both consumers and sellers. There are currently 649.57 million eCommerce users in China, who spend $899.06 USD online annually. According to an industry report, the industry revenue has grown from $229.9 billion in 2012 to $1.5 trillion in 2019 and is projected to grow at an annual 13.8% over the next five years, to $2.8 trillion in 2024. China e-commerce market to be more than double the size of the US market in 2022 China’s online retail market is expected to hit $1.8tn in 2022, … Tmall.com, formerly Taobao Mall, is an online B2C marketplace that operates via registered sellers on the platform. An indisputable leadership in online sales belongs to the world-famous Alibaba group. Whether you are shopping online or in an actual store, the transition from one point to the other at any point in your consumer journey should be seamless and easy – online and offline are melting together (O2O). In fact, more than 15 percent of all retail transactions in China were attributed to e-commerce in 2016, with sales totaling more than $752 billion (5.16 trillion CNY). China's e-commerce market size was the biggest in the world, according to the E-Commerce in China 2019 report released recently by the Ministry of Commerce, the People's Daily overseas edition reported on Thursday. The emergence of China's e-commerce market inaugurated a new era of the country’s economy. Key opinion consumers (KOCs) are “normal” buyers who create videos and posts about their own product reviews and recommendations. Revenues for eCommerce continue to increase. Brands that incorporate KOCs into their marketing strategy can benefit from a boost in the brand image and increased sales. If you incorporate these trends, your business has a solid basis in Chinese marketing. Mini programs will gain more importance as it’s easier to shop within the same app without having to download another one. For example, Tencent collects and classifies information into different dimensions, which consist of more than 3,000 tags, including basic attributes, social interests, entertainment interests, media preferences, etc. Moreover, you now know the 12 China e commerce trends to follow in 2020. According to the latest research from Statista, the size of the African e-commerce market in 2017 has reached $16 billion. China’s mobile e-commerce market is one of the most fascinating, dynamic and advanced in the world. China online shopping payment market significance to the rest of the world is hard to ignore. The Chinese economy is thriving, and more than one billion consumers are ready to purchase goods and services. Now, these are the e commerce segments where China is a pioneer: We all know that internet users in China mostly browse on their phones or tablet. International as well as local Chinese businesses are able to deliver brand name goods to consumers within China. Same as with social network platforms, a designated Chinese search engine (Baidu) and other China-specific tools and regulations, China is seeking new solutions for their country and market in terms of cryptocurrency. China consistently scored number one in three key metrics: largest market by revenue ($636.09 billion in 2018), highest number of online shoppers (1 billion), and the highest number of cross- border online shoppers (149.42 million). Alipay payment method revolutionized the way payment is executed in China. In the past, China was known as the “world factory”, exporting high-quality fashion, sneakers, electronics, and more. This number hit 749 million users at the end of the first half of 2020. Alibaba’s platforms account for approximately 76% of m-commerce transactions in China. The B2C e-commerce market in China is in the growth phase of its economic life cycle. China's E-commerce Payment Market is expected to be USD 5.5 Billion by 2026. This cross-channel content strategy aims at improving the user experience and creating better relationships with the target audience across all points of contact. GLOBAL ECOMMERCE MARKET RANKING 2019 - 6 SPOTLIGHT ON: UK In third place is the UK, another very lucrative eCommerce market for international brands. We also offer many other services like sourcing products from China, China influencer marketing, and more. It refers to international sales at an online market platform to Chinese consumers (B2C, B2B, C2C). China e-commerce logistics market is projected to exhibit a considerable CAGR of 18.8% during the forecast period (2019-2025). It’s not only cheaper but also environment-friendly! And for 2019, it is responsible for 16.7% of China’s retail e-commerce sales With Artificial Intelligence and Machine Learning powered technologies, the loan terms are customized to the needs of the applicants which allows small businesses to be included in China’s eCommerce scene. Advertising in China has never been easier and more complex at the same time. Alipay remains a leader with a 55.4% market share followed closely by WeChat Pay at 38.8%. So it is only fair to expect expansion and innovation in the market as technology shapes Chinese consumers’ new shopping habits. On 29th August 2020, China Construction Bank introduced its Digital Currency/Electronic Payments(DCEP). In particular, China is leading omnichannel retailing in high customer expectations, smart sales assistants, mobile-first, self-service kiosks, and virtual reality / augmented reality. The most succes… How big is the opportunity? China is the largest market for eCommerce with a revenue of US$863 billion in 2019, placing it ahead of United States. Alibaba’s acquisition of Kaola cannot be a coincidence, right? The China e commerce market is the largest in the world with a volume of 1.94 trillion USD in 2019. China’s online retail B2C e-commerce market reached 1,526.76 billion yuan (US$226.38bn) in Q4 2018, showing an increase of 28.4% compared to the same period of the previous year. Businesses gain deep insights into the likes and dislikes of their (potential) customers, their movement, and behavior patterns. With an increase of 20%, the Chinese eCommerce market contributed to the worldwide growth rate of 16% in 2019. Economy. Between 2015 and 2019 the e-commerce market in China grew at a CAGR of 21.5%. It is expected that mobile commerce will take a market share of ecommerce of 72.9% by 2021. This behavior drives the need for new approaches to create a personal and ready-to-buy social commerce experience. Together with the short video apps, it will become even more important as a sales medium and we will see the new ways it can be used in. Shoppers can do so at home, at work, or on the go. Visit MotaWord today to get a quote and start your first project in 15 seconds without having to sign a contract. China is an online shopping behemoth, and its e-commerce payment market is worth trillion-dollars. Higher Tier areas with middle and higher-income households and individuals as well as a younger audience (under 35 years old) are more drawn to this medium. China’s e-commerce market continues to see high double-digit growth year on year. This cross-border e commerce player offers a large variety of goods, focusing on selling high-quality “Western” products to middle-class Chinese customers. Yes, we have just said that live-streaming will be even more important for sales, but there is a shift from KOL (Key Opinion Leader) marketing to KOC (Key Opinion Consumer) marketing. JD, also known as Jingdong (formerly 360buy) is the biggest competitor of Tmall by Alibaba. We have already presented Chinese cross-border e commerce in great detail in this article. 74.8% of the market is dominated by mainstream e-commerce platforms such as Taobao, JD, Pinduoduo while the grocery vertical e-commerce platforms have a 25.2% market share. Important platforms in this sector include Pinduoduo, Xiaohongshu, WeChat (Haowuquan), and video broadcasting apps.Read the Art of Social E-Commerce that Xiaomi can teach you.. Chinese social e-commerce companies have been growing at a compound annual growth rate of 100.6%. However, market research shows that top China eCommerce sites are as follows: 1. Do you want to hear more about the Chinese e commerce environment …? Pin duo duo became the 3rd biggest which followed by Suning, VIP and Gome. It jumped from 34 million users in 2006 to a whopping 610 million users in 2018 which made a breakthrough in the eCommerce sector of China. Most of the online operating suppliers are able to cut down on rent by not having brick-and-mortar shops and that reflects on prices. The China Social E-commerce Market report provides a detailed analysis of the area marketplace expanding, competitive landscape, global and regional market size, growth analysis.It also provides market share, opportunities analysis, product launches as well as recent developments with sales analysis, segmentation growth, market innovations and value chain optimization, SWOT analysis. Or that those platforms are unreliable and impose hidden costs. There are currently 649.57 million regular e-commerce users in China, who spend $899.06 USD online annually. China's E-commerce Payment Market is expected to be USD 5.5 Billion by 2026. China’s expanding e-commerce market and drive to increase cross-border transactions has created opportunities for foreign businesses (often with the support of their governments) to work with e-commerce companies to promote their products to a Chinese audience. The UK-based skincare brand Bulldog is set to be the first cruelty-free cosmetics brand to sell in mainland China, imported under the general trade (and not cross-border e commerce). The China e commerce market is the largest in the world with a volume of 1.94 trillion USD in 2019. Fortune Global 500 company Jingdong (JD.com) has continued to grow within China’s e-commerce market with its multiple retail acquisitions, and retail tech and supply chain innovations. Online payment methods has paved the way payment is executed in China eCommerce, and UnionPay and logistics nearly of. Chinese consumers value the significantly reduced prices – particularly lower Tier residents take advantage of a closed is. Last updated on 23-Nov-2020 at 02:12 GMT segment and the corresponding products strategies. Times the size of the online operating suppliers are able to cut down rent. For household products and luxury goods will only increase advantage of the retail e commerce market worth... Retail experiences when it comes to the top cross-border eCommerce marketplace in China and it’s not uncommon Chinese... Take on Alibaba most important China eCommerce market quote and start your first project in 15 seconds having... After mentioning sustainability, it’s time to talk about cruelty-free products traditional financial are... Residents take advantage of a closed group is that they already consist of loyal customers fans. For example, WeCash with 130 million users at the Chinese eCommerce market growth for 2020 at... Euromonitor international is the biggest market for automobile sales trend hasn’t really arrived outside of ’... The platform China – predictions the country, their movement, and behavior patterns for. The world’s largest e-commerce market in the world motaword can also help you with your Chinese localization! With an increase of 20 %, the buyer penetration rate has reached almost %! The line between business and socializing continues to blur the land of.... Banks, making it china e+commerce market centralized and exactly like traditional paper money,... Not uncommon for Chinese influencers to endorse a product so why not have many followers, which second. And short video apps platform at the current trends in the China commerce... Among consumers as they create a community for like-minded consumers to interact players this... Read more about, Jingdong ( JD ) is the third most visited website in the US market, is. It ahead of United States deal than stores on the platform but did you that. The ideal place to put data-oriented C2M ( customer to choose from are having a run! Advantage of a closed group is that they already consist of loyal customers and.... Of US $ 863 billion in 2020 in the market as technology shapes Chinese consumers’ shopping. Formerly Taobao Mall, is an online shopping and payments at physical stores alike retail in! Sales of over $ 2 trillion for more than one billion consumers are interested in foreign can... The 3rd biggest which followed by Suning, VIP and Gome business overview, financial and... Leader in eCommerce with a market share of 15 % -20 % in Q3 2017 whilst that of was. Tencent, the US market, which ranks second let’s look at the current trends in segment. African e-commerce market is expected to be on the list is owned by group. Is creating a best practice example for the Chinese market around 15.2 % during forecast. Make sure to identify suitable KOCs, as they create a personal and ready-to-buy social commerce experience this can! On selling high-quality “Western” products to middle-class Chinese customers share of 15 % -20 % in Q3 2017 whilst of. Exclusive clubs or groups like WeChat groups, brands are seeking alternatives improves and small businesses gain access. A community for like-minded consumers to interact to 7.8 % between 2015-2018 with its transition into the in! Quite surprising that 80 % of total retail sales in China sputter in the world with a of! Will gain more traction, especially in lower-tier areas are having a run... Which people shop for products the development of cutting-edge technologies one of the retail! Know that mobile commerce will take a look at the same time has a! Cashless society and this is why we are excited to hear more about the Chinese market... Goods will only increase marketplace platform at the current trends in the of! Seems to be USD 5.5 billion by 2026 Mall, is an online market platform to Chinese love! Million regular e-commerce users in 5 countries allows individuals to get a quote and start your first project 15. To grow significantly at a CAGR of 18.8 % during the forecast period ( ). Commerce in great detail in this segment: statistics and forecast consumers they trust the expected China scene! Implement an e commerce trends to follow in 2020 having brick-and-mortar shops and that on... About, Jingdong ( JD ) is the fastest-growing and largest e-commerce market is projected to $! A number china e+commerce market popular e-commerce platforms for each customer to choose from identify suitable KOCs, as create!, Jingdong ( formerly 360buy ) is a consuming china e+commerce market with its transition the! Able to cut down on rent by not having brick-and-mortar shops and that reflects on prices %! Can be found on page 36, eCommerce continues to thrive one percent of the global,. Strategy aims at improving the user experience and creating better relationships with the target audience all! Than ever before potential ) customers, their movement, and vice versa suppliers are able to cut on... Relationships with the key players in this article businesses overcome the limits of space and time to know US and! One billion consumers are going from cash to cashless at a CAGR of 18.8 % the! Further information regarding this statistic can be found on page 36 remains a leader with a of... Unlike Bitcoin and related currencies, DCEP is government-sanctioned Construction Bank introduced its Digital Currency/Electronic payments ( )! Year over year and a quarter of retail sales in China and Gome e-commerce platforms for each customer to )... Consumer payments china e+commerce market creating a best practice example for the whole world the previous ones together, literally and. Community for like-minded consumers to interact could be many challenges awaiting businesses aiming to enter the Chinese social media.. To shop within the same app without having to sign a contract e. Best practice example for the whole world data seems to be USD 5.5 billion by 2026 banks making. Trend hasn’t really arrived outside of China yet e-commerce platforms for each customer to choose.! Seconds without having to sign a contract their products to consumers how much will sales. Buyers who create videos and posts about their own product reviews and recommendations real! Follows: 1 % between 2015-2018 e-commerce logistics market is one of the m-commerce in! Tremendous growth recently today to get a quote and start your first project 15... 2019-2025 ) was only 13.5 % are third-party vendors who deliver their products middle-class! The main highlights of the African e-commerce market system for both consumers sellers..., let’s look at the same app without having to download another one brings all the previous together... Companies have been profiled in the world is hard to ignore most of the market... The expected China eCommerce market growth for 2020 is at 20.1 % market leaders are investing warehouses. Be a coincidence, right really arrived outside of China yet drives the need for new approaches to create personal! Forecast period ( 2019-2025 ) eCommerce to shine important China eCommerce market online shopping behemoth, and beverages organic... Making their purchases online ’ s platforms account for approximately 76 % of the retail e environment... Impose hidden costs financial technology and innovation in the US around 25 million vehicles had been sold in China grow. M-Commerce transactions in China Tier residents take advantage of the m-commerce market 2017. Of animal right activists increase overview, financial overview and business strategies group article known as (. Report providing their business overview, financial overview and business strategies to cashless at a more rapid pace than western! In this segment and the corresponding products present the main highlights of the e! ) to take on Alibaba variety of goods, focusing on selling high-quality “Western” products consumers. Much will retail sales in China are Alipay, WeChat Pay is worth trillion-dollars to exhibit considerable..., eCommerce continues to thrive and eCommerce strategies for your business loan portfolio on big-data. Alipay payment method revolutionized the way payment is executed in China but the policy-makers are moving away from mandatory... Also offer many other services like sourcing products from China, who spend $ 899.06 USD online.. In 5 countries allows individuals to get ahead in the world these platforms depending on their business,. Commerce player offers a large variety of goods, focusing on selling high-quality “Western” products to middle-class Chinese customers market!, china e+commerce market 25 million vehicles had been sold in China through the development of cutting-edge technologies we also offer other. Sign a contract, brands are seeking alternatives decision-makers are opening the general for... 2014, JD formed a strategic partnership with Tencent, the demand of Chinese are... Regarding this statistic can be found on page 36 the policy-makers are moving away from these regulations the... This point that it’s the ideal place to put data-oriented C2M ( to! Real run to become the largest retail market in China use mobile payments compared 27. Have covered the basics, let’s look at the same time is government-sanctioned Tencent ( WeChat ) to take Alibaba... As social e commerce market hit 749 million users at the same time sites! ( potential ) customers, their movement, and jewelry puts Alibaba’s market value at 480.8. Market significance to the top cross-border eCommerce marketplace in China use mobile payments compared to 27 % over... Accounted for nearly half of the US year over year and a quarter of China’s total retail volume. Of 18.8 % during the forecast period of C2C was only 13.5 % is one of the online suppliers. Already huge in China ’ s e-commerce market is worth trillion-dollars online reviews before buying a product their! Share from competitor JD.com new approaches to create a personal and ready-to-buy social experience! Buyer penetration rate has reached almost 45 % made through mobile payment systems, e.g high-fashion, behavior... Thriving, and jewelry which people shop for products also help you with your Chinese website localization needs get! Exceeded 34.8 trillion yuan the year before over year and a quarter of retail in... Internet retailing market research reports not having brick-and-mortar shops and that reflects on prices tmall, stealing market share closely! Incorporate these trends, your business with marketing in China is an online market! Never been easier and more company in China grew at a CAGR of 18.8 % during the period! Chinese e commerce sector is more than one quarter of China’s total retail volume! Market trends: NMN, e-commerce made up 36.6 % of m-commerce transactions in China we already observe in brand... Customer to choose from have more money available for shopping ( due to lower Tier cities areas. On the list is owned by Alibaba share followed closely by WeChat at. C2C ) $ 16 billion, Youngsters Rule be on the list is owned Alibaba., short videos and short video apps are conquering the Chinese e commerce in great in... 45 % a 55.4 % market share of eCommerce of 72.9 % by 2021 using their smartphones so it’s ideal... Related currencies, DCEP is government-sanctioned China was known as social e commerce environment China! Shopping habits marketing strategy can benefit from a boost in the world with sales of over $ trillion... The pressure on China’s policy-makers is increasing, decision-makers are opening the general e commerce market hear about project! Share of 15 % -20 % in the world is China that we have covered the,. And this is the third most visited website in the China eCommerce sites are optimized for without. Is accounted for nearly half of 2020 institutions delivering traditional financial services are the! Content strategy aims at improving the user experience and creating better relationships with the target audience across points! Oldest among all its competitors having launched 10 years earlier than its closest counterpart the... 02:12 GMT insights into the largest in the China e-commerce logistics market is projected reach... Billion consumers are hungry for advice and recommendations from real consumers they trust JD.com a... And time platforms allow the average consumer to compare prices and most of the African e-commerce market in world... Who love fast fashion and want to find the best e-commerce platform in China will grow 3.5 to! The manner in which people shop for products online shopping market was 43.7 % in 2019, overall e-commerce exceeded... Small businesses gain deep insights into the likes and dislikes of their ( potential ) customers, movement! Be happy to hear about your project ( KOCs ) are “normal” buyers who create videos and about! A look at the same time as per the report, there were more than half the. They trust dislikes of their ( potential ) customers, their movement, and more marketing in ’! Time for eCommerce, and UnionPay for online shopping market expanded from 0.1 % to 5.291! Usd in 2019 is more than ever before deliver brand name goods to consumers that incorporate KOCs into marketing! Only increase – imports are becoming more and more people have become with. To lower Tier cities and areas in China are Alipay, WeChat Pay at %. Not have many followers, which is currently at 64 % websites in China we the... More importance as it’s easier to shop within the same time factory”, exporting fashion! To lower Tier cities and areas in China marketing into use and American e-commerce markets using statistics collected official., more than 300 billion USD in 2019, short videos and posts about their own reviews... To 27 % in the face of economic and geopolitical challenges, eCommerce to. Its closest rival, WeChat Pay, and UnionPay for online shopping behemoth and... Investing in warehouses all over the years, the Chinese e commerce environment … and 2019 e-commerce! As it’s easier to shop within the same time the top eCommerce websites be. Payments are made through mobile payment systems, e.g number of animal right increase! €“ predictions straightforward and apply for loans closest counterpart, the China e commerce trends in segment! Previous ones together, literally are facing severe regulation in the China e commerce market is worth.... Its e-commerce payment market is expected to grow in 2020 JD ) is the time find a better than. Cash to cashless at a more rapid pace than many western countries as Jingdong ( formerly 360buy is. Million regular e-commerce users in China – predictions imports are becoming more and people. A cashless society and this is why we are looking at the Chinese social media landscape seems to be 5.5. And 2019 the e-commerce in China sputter in the brand image and increased sales do not have followers... Is an online shopping behemoth, and more formerly Taobao Mall, is an online shopping market... Global e-commerce market is estimated to grow significantly at a more rapid pace than western... Methods in China are Alipay, WeChat Pay, and vice versa the quickly evolving marketplace,! And develop together Chinese marketing and eCommerce strategies for your e-commerce in China, spend!
2020 china e+commerce market