FEATURED MARKET: E-COMMERCE IN CHINA
Feb 16, 2015 / Categories: Uncategorized
On February 13th the U.S. Department of Commerce held a special round-table discussion on e-commerce in China with a leading company in the field. Arbitrago was among the selected 20 U.S. companies to attend this program that covered the e-commerce market, special commercial considerations, growth potential and local partnership with a Chinese partner.
CHINA’S ONLINE SHOPPING MARKET OVERVIEW
- China’s online shopping GMV is growing at a CAGR of 29% and is expected to reach RMB 3,600B by 2016, representing 10.8% of total retail sales.
- Within online shopping, B2C Marketplaces gained momentum in 2013 and are on track to take 29% of China’s online sales by 2015.
- Due to the proliferation of smart phones, Mobile shopping GMV is expected to account for 9.2% of China’s total online shopping GMV by 2013.
- Apparel is still the leading category in terms of penetration among online shoppers (81.8%) and overall market share (26.5%).