The latest market research report by Technavio on the
business-to-consumer (B2C) e-commerce market in China predicts a
CAGR of around 28.78% during the period 2017-2021.
This press release features multimedia. View
the full release here:
http://www.businesswire.com/news/home/20171123005299/en/
Technavio has released a new market
research report on the Business-to-Consumer E-commerce Market in
China (Graphic: Business Wire)
The increase in Internet and smartphone penetration, free
shipping and unproblematic return policies, easy payment options,
and growing seasonal sales are the top factors expected to drive
the business-to-consumer e-commerce market in China during the
forecast period.
The rise in the number of smartphone users has significantly
contributed to the online retail market's growth. As of 2016,
nearly 51%-53% of the mobile phone holders in China used
smartphones. The rapid rate of smartphone penetration results in
significant growth opportunities for online retailers in China. As
customers are accustomed to shopping that offers comfort, the
growth of online shopping is expected to be on the rise.
Tamal Saha, a lead analyst from Technavio,
specializing in research on the retail goods and services sector,
says, “As per the World Bank Group, in 2016, the
percentage-to-population of internet users in China was 53.20%.
733.45 million people in China have access to the internet; the
number is the largest globally. Smartphone users in China spend
more time online than users in other APAC countries apart from
Japan and South Korea.
In China, a customer spends nearly 16 hours a
week on an average on the internet for shopping, online payments,
ticket bookings, and other online transactions. The growth of
wireless and fixed connections has increased the degree of
broadband penetration in China.”
This report is available at a USD 1,000 discount for a
limited time only: View market snapshot before purchasing
Buy 1 Technavio report and get the second for 50% off.
Buy 2 Technavio reports and get the third for free.
The top three emerging trends driving the B2C e-commerce market
in China according to Technavio’s research analysts are:
- Growing m-commerce platform
- Omni-channel retailing
- Increasing social media marketing
Looking for more information on this market? Request a
free sample report
Technavio’s sample reports are free of charge and contain
multiple sections of the report including the market size and
forecast, drivers, challenges, trends, and more.
Growing m-commerce platform
A high degree of internet penetration and an increase in the
number of smartphone users worldwide have led to the evolution of
the shopping habits and shopping patterns of the global customer.
This applies to e-commerce customers in China as well. The growing
demand for e-commerce is coupled with an equally increasing
popularity of m-commerce.
“Mobile versions of many a web-portal have
been launched to meet the growing demand for m-commerce and
smartphone shopping. Alibaba Group Holding, a key vendor in the
online space, has launched mobile applications that are compatible
with iOS, Windows, Android, and other operating systems. The use of
mobile wallets is expected to peak in the forecast period with the
advent of e-cash,” according to Tamal.
Omni-channel retailing
Omni-channel retailing is a key trend that has recently been
incorporated by domestic and international physical retailers
across different product categories. Omnichannel retailing is an
evolving concept in the B2C e-commerce market in China. Multiple
retailers are investing in omnichannel retailing through their own
web shopping portals.
Vendors in beauty and personal care (BPC) market such as Procter
& Gamble (P&G), Shiseido, Unilever, others sell their
products through web portals and e-commerce retailers. Likewise,
physical retailers catering to product categories such as apparel,
footwear, toys, baby products, and others are venturing into the
online shopping space.
Increasing social media marketing
Social networks occupy a significant space in the B2C e-commerce
market in China. On a daily basis, users spend about 1.95-2.15
hours on social media in China. The major social networking
websites in China include douban, Renren, WEIBO, and Tencent's
Qzone. As of 2016, China registered around 689 million social media
users; the country is expected to incline by a CAGR close to 4.60%
by 2021.
Retailers in the B2C e-commerce market in China use social
networking websites to gain marketing and sales leverage. The
optimum utilization of social media for marketing plays a
significant role in creating new products and consumer experiences,
understanding changes in fashion trends and interests, tracking
brand and product reviews, and launching several social media
marketing campaigns.
The key vendors are as follows:
- Alibaba Group Holding
- Dangdang
- JD.com
- Suning Holdings Group
- Vipshop Holdings
Subscribe to Technavio’s Insights Platform
To access additional research insights specializing in the China
market or any of the 50+ countries covered by Technavio, you can
subscribe to the Technavio Insights Platform (TIP). This new
subscription service brings you 24/7 access to our reliable
product-based intelligence solutions and services, providing a
one-stop tool for all your market intelligence needs.
TIP offers three different subscription plans, with each plan
providing you large discounts on reports. With some of the most
affordable rates in the industry, having this simple and accessible
tool at your fingertips will help you rise above the competition by
assisting you with the most complicated business decisions.
If you are interested in more information, please contact our
media team at media@technavio.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171123005299/en/
Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
+1 844 364 1100UK: +44 203 893 3200www.technavio.com