{"id":11318,"date":"2011-11-23T03:11:15","date_gmt":"2011-11-23T03:11:15","guid":{"rendered":""},"modified":"2011-11-23T03:11:18","modified_gmt":"2011-11-23T03:11:18","slug":"China-to-top-world-in-e-commerce-by-2015-report","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=11318","title":{"rendered":"China to top world in e-commerce by 2015: report"},"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. China’s e-commerce market is currently worth $74 billion – less than half that of the United States at $177 billion, a new report by the Boston Consulting Group said. But it is growing rapidly, spurred by increasing Internet use – China now has an online population of more than half a billion – the low cost of shipping and a passion for shopping among China’s growing middle class. “Consumerism is already big in China – people simply love to shop. Beyond this, the Internet is affordable, and thus widely available,” said the report, based on surveys of more than 4,000 online shoppers across the country.<\/strong><\/p>\n

“China… already has 145 million online shoppers, with exponential growth expected that could bring the number to 329 million by 2015 and make the e-commerce market in China the world’s most valuable.” 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, issued on Tuesday. 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. 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, an expansion that took the United States a decade to achieve, it added.<\/strong><\/p>\n

Perhaps, President Obama can form a new e-commerce Super duper Committee to expensively mishandle this problem! Just a suggestion. \ud83d\ude42<\/em><\/strong><\/p>\n

SOURCE<\/a>
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