Their success has promoted e-commerce in China, helping to ensure that online buying is a widely accepted and trusted way to shop.Īccording to a recent study by EMarketer, more than half of all Chinese retail sales will be online by no later than 2024. Together, these platforms have over three billion users. Īlthough not yet able to rival America’s leadership in technology, China is the home to e-commerce giants, including the now globe-spanning JD.com, Tencent and Alibaba. The most popular online shopping category purchases are health and beauty (22%), toys and hobbies (22%) and food (17%). In China, e-commerce accounts for a massive 45% of all retail sales. The average Chinese e-commerce shopper spends US$1,500 a year with online merchants. To succeed in China’s fast-paced e-commerce market, you must know the preferred payment methods of China’s consumers and accept them at your checkout.Į-commerce in China is worth US$2,111.7 billion and is forecast to grow at an average rate of 12% a year until 2025. That’s significantly higher than the average salaries in some EU countries, a sign of just how prosperous many parts of China have become. In Shanghai, for instance, the average worker earns over US$18,000 a year. In some parts of the country, it’s already much higher. Ĭhinese annual per capita income is just over US$10,000 and rising. Its economy expanded by 8.1% in 2021 and is expected to grow by 4.4% in 2022 before rebounding to 5.1% in 2023. Despite the headwinds of the recent pandemic and the still troubled global economic situation, the country is still the fastest growing of the world’s major markets.
The people’s republic is the world’s largest e-commerce market, worth US$1.7 trillion. For an e-commerce provider that understands the local market and has a relevant product offering, the country is highly lucrative. China is a massive and increasingly prosperous market.
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