{"id":11315,"date":"2011-11-23T01:11:10","date_gmt":"2011-11-23T01:11:10","guid":{"rendered":""},"modified":"2011-11-23T01:11:10","modified_gmt":"2011-11-23T01:11:10","slug":"China-to-top-world-in-e-commerce-by-2015","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=11315","title":{"rendered":"China to top world in e-commerce by 2015"},"content":{"rendered":"

China, already home to the world’s largest online population, is likely to replace the United States as the biggest e-commerce market by 2015, according to new research.<\/strong><\/p>\n

China’s e-commerce market is currently worth $74 billion – less than half that of the United States at $177 billion<\/strong>, a new report by the Boston Consulting Group said.<\/p>\n

But it is growing rapidly, spurred by increasing Internet use – China now has an online population of more than half a billion<\/strong> – the low cost of shipping and a passion for shopping among China’s growing middle class.<\/p>\n

Within five years, online shoppers in China will be spending an average $980 per year – twice what they spend today and close to the US average of $1,000, said the report<\/strong>, issued on Tuesday.<\/p>\n

Up to a quarter of e-commerce demand is for products consumers cannot find in physical stores – a circumstance unique to China, whose huge size limits the coverage of physical retailers, it said.<\/p>\n

The e-commerce industry benefits from China’s low cost of shipping – one dollar on average to ship a one-kilogramme parcel, versus six dollars in the United States, it said.<\/p>\n

E-commerce in China will go from representing 3.3 percent of the country’s total retail value today to 7.4 percent in 2015<\/strong>, an expansion that took the United States a decade to achieve, it added.<\/p>\n

Source AFP<\/em>
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